Guernsey – The Licensees (Conduct of Business) Rules, 2009 – Explanatory Note and Feedback on Consultation.  The Guernsey Financial Services Commission, in conjunction with a Working Party including practitioners from the investment business sector, has been preparing new Conduct of Business Rules mandatory for all entities licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 1987 as amended. Earlier this year the Investment Business Division posted on the Commission website the draft Licensees (Conduct of Business) Rules 2009 (“the Rules”) for consultation.  There was a wide ranging response to the consultation and all responses were reviewed by the senior management team of the Investment Business Division. Given the volume of responses to the consultation it has not been possible to provide a line by line response on each comment and the changes made to the Rules.

The purpose of this document is to outline the main themes raised from the consultation and in particular provide our reasoning where we have not incorporated comments from the consultation.  The Conduct of Business Rules will become effective on 1 January 2010.

Read more – https://www.gfsc.gg/UserFiles/File/Investments/Feedback%20Statement%20to%20the%20Licensees%20Conduct%20of%20Business%20Rules%202009.pdf
Read the new law –
https://www.gfsc.gg/UserFiles/File/Investments/Licensees%20Conduct%20of%20Business%20Rules%202009.pdf