During mid-2017, a thematic review was undertaken on the financial crime governance, risk and compliance frameworks of a selection of smaller firms in the trust and corporate service provider sector (“TCSP”). The Commission undertook a similar review of fund administrators in 2016 and wished to assess the differences and similarities in approach to governance, risk […]

The Commission has published a report on its thematic review of the sale of general insurance add-on policies by insurance brokers in Guernsey. The Report can be downloaded here and Forms/20151210 – Guernsey Financial Services Commission V15 – For Publication.pdf General insurance add-on products are insurance policies commonly sold in conjunction with another insurance policy such as […]

This topic “Fiduciary decision making in respect of assets under trust” was chosen as it represents a key responsibility of trustees and is also a common theme in complaints notified to the Fiduciary Supervision Policy and Innovations Division (“the Division”). Such complaints often focus on the decisions made by trustees in respect of trust assets, […]