The move is likely to spark a fresh row with the finance industry amid claims that the Guernsey Financial Services Commission is over-regulating business. Plans for GFSC staff to meet regularly with board members of banks that it regulates have been slammed by the Guernsey International Business Association. Giba also demanded the regulator quash industry […]

Guernsey may follow Jersey in adopting RDR style consumer protection measures for its financial industry. – Guernsey has now confirmed it has established a working party to consider consumer retail protection measures. A spokesman for the Guernsey Financial Services Commission (GFSC) said: “The commission has established a working party to consider retail consumer protection, and […]

The Guernsey Financial Services Commission (the “GFSC”) recently handed out fines totalling £35,000 to three directors of a Guernsey based licensed fiduciary services company and issued a public statement under section 11C of The Financial Services Commission (Bailiwick of Guernsey) Law 1987 (as amended) (the “Financial Services Commission Law”). This was the first such regulatory […]

1st October 2007 – Investigators say many contracts were fictitious – Arms dealer used Channel Island tax havens – The Serious Fraud Office has begun a new investigation into British links with one of the biggest corruption inquiries in Africa. UK firms won huge contracts from the Kenyan governments of presidents Daniel arap Moi and Mwai […]

The Terrorism and Crime (Bailiwick of Guernsey)(Amendment) Regulations, 2010. Made and Coming into operation and Laid before the States – 17th May, 2010. THE HOME DEPARTMENT, in exercise of the powers conferred on it by section 15C of the Terrorism and Crime (Bailiwick of Guernsey) Law, 2002 and all other powers enabling it in that […]

Change of control of Kleinwort Benson receives FSA and GFSC approval – Kleinwort Benson today announces that RHJ International SA has received approval from the Financial Services Authority to become the controller of the private bank. This is a major landmark in the organisation’s sale process as RHJ International SA prepares to take ownership of […]

As part of the regulatory regime for licensed fiduciaries, the Guernsey Financial Services Commission carries out onsite visits to both corporate and individual licensees. This update provides practical advice for licensees on how best to prepare for such a visit. Providing information before visit – Before an onsite visit – the Guernsey Financial Services Commission […]

This (Ogier) memorandum has been prepared for the assistance of its clients in connection with the provisions relevant to compulsory winding up of Companies under the Companies (Guernsey) Law, 2008 (as amended) (the “Companies Law”). It is intended to provide only a summary of the main legal and general principles and it is not intended […]