The GFSC have posted x3 AML updates on their website today. These are 1.    Changes to the Handbook for Prescribed Businesses – 2.    Changes to the Handbook for Financial Services Businesses 3.    Consultation on changes to AML/CFT legislation In summary these news matters deal with the following 1.    (1&2)  Prescribed businesses are advised that the […]

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) […]

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) […]

Guernsey Financial Services Commission November 11th – Prior to November 2009 the Guernsey Financial Services Commission (Commission) issued Business from Sensitive Sources Notices, which required enhanced customer due diligence measures to be undertaken by financial services businesses and prescribed businesses in Guernsey when taking on business or transactions from specified countries or territories. In November […]

On 22 October 2009 the Guernsey Financial Services Commission decided to make the following public statement in respect of Ms Pippa Marie Harbour. It decided: 1. to make prohibition orders under the Protection of Investors Law, the Banking Law, the Fiduciary Law and the Insurance Laws. These orders prohibit Ms Harbour from acting as a […]

6 July 2009 – Amendments to AML laws and rules Amendment 1 The Policy Council have signed the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2009. The main change to the 2007 regulations created by the amendment regulations is a requirement that senior management sign off is needed for […]