Post RDR/RFA we are now seeing a growth in the emergence of execution-only propositions or non-qualified employees being used to provide market views and or guidance without advice. These services are sometimes called an ‘information only’ or ‘non-advice’ service. Whilst these propositions clearly state that they are not offering advice, regulators (FCA/GFSC/JFSC) are growing increasingly […]

The Guernsey Financial Services Commission is committed to maintaining appropriate and effective standards of regulatory supervision within the Bailiwick in order to protect its international reputation as a financial centre. Through its onsite program and enquiries received from industry, the Financial Crime and Authorisations Division has identified a number of areas where it has been […]

The Commission has a policy of encouraging innovation. Virtual currencies are an area of innovation which the Commission continues to monitor closely while recognising that there are currently significant risks associated with them. In the light of those risks, the Commission will adopt a cautious approach and may well refuse applications to register financial services […]

The Guernsey Financial Services Commission (the Commission) is increasing its capacity to undertake professional and efficient enforcement action[1]. The appointment of Simon Gaudion to the newly created post of Director of Enforcement, and the establishment of a dedicated Enforcement Division, will further enhance the Commission’s ability to undertake proportionate and efficient enforcement action. “The Commission […]