GFSC

Remote working business model

Due to Covid-19, most licensees and their staff had moved to home working throughout the year. Although many licensees have since returned to office working, the Commission is aware that a number are continuing to operate some form of home working. As some licensees are currently contemplating moving to a home working model on a […]

Remote working business model Read More »

Engagement on the draft amendments to Insurance Business (Bailiwick of Guernsey) Law, 2002 (the “Insurance Business Law”)

On the 30th of October 2015 the States of Deliberation approved the Policy Letter submitted by the Policy Council on the Revision of the Financial Supervisory and Regulatory Laws. Following approval of this, the Law Officers and the Commission, with the assistance of members of industry, have now produced an Ordinance amending the Insurance Business Law

Engagement on the draft amendments to Insurance Business (Bailiwick of Guernsey) Law, 2002 (the “Insurance Business Law”) Read More »

GFIN, Cross Border Testing

The GFSC is participating in the GFIN’s Cross-Border Testing, which launches 29th October 2020. The Global Financial Innovation Network (GFIN) is inviting applications from firms to test innovative financial products, services, business models or regulatory technology across more than one country or jurisdiction. Firms interested in applying should submit an application via the GFIN website

GFIN, Cross Border Testing Read More »

Bank of England Interest Rates

On 12th October 2020, The Bank of England (“BoE”) published a letter requesting feedback in relation to any possible operational implications that firms would encounter if the Bank of England’s Monetary Policy Committee (“MPC”) implemented a zero or negative policy rate.  A copy of the letter is available here. Guernsey regulated firms should consider if there are

Bank of England Interest Rates Read More »

Sanctions Notice – Cyber-Crime

An asset freeze and travel ban have been imposed on two people and one entity under the EU’s cyber sanctions regime for their involvement in the cyber-attack on the German Parliament (Deutsche Bundestag) in April and May 2015. Individuals: Dmitry Sergeyevich Badin and Igor Olegovich Kostyukov. The EU regulation can be found here: Council Implementing Regulation (EU) 2020/1536. It is

Sanctions Notice – Cyber-Crime Read More »

Sanctions Notice – Chemical Weapons Sanctions

The EU has listed 6 Russian officials and 1 entity under its chemical weapons sanctions regime. The 7 persons have been designated under Council Implementing Regulation (EU) 2020/1480 for their involvement in the assassination attempt on Alexei Navalny in August 2020. Individuals: Andrei Veniaminovich YARIN, Sergei Vladilenovich KIRIYENKO, Sergei Ivanovich MENYAILO, Aleksandr Vasilievich BORTNIKOV, Pavel Anatolievich POPOV,

Sanctions Notice – Chemical Weapons Sanctions Read More »

Sanctions Notice – Libya Sanctions

The EU Council has imposed an asset freeze and travel ban against one individual under its Libya sanctions regime. The following individual has been designated under Council Implementing Regulation (EU) 2020/1481. Yevgeniy Prigozhin The EU Regulation is implemented in Guernsey by the Libya (Restrictive Measures) (Guernsey) Ordinance, 2016. For a full list of GFSC sanctions including measures

Sanctions Notice – Libya Sanctions Read More »

Scroll to Top