International Finance Centre

Regulation

Day to day responsibility for the regulation of the finance sector rests with the Guernsey Financial Services Commission, which was established under the Financial Services Commission (Bailiwick of Guernsey) Law, 1987 with general and statutory responsibilities. The Commission was one of the world's first such unitary bodies, with the regulation of banking, insurance and investment activity being carried out under one roof. Regulated entities now include banks, company administrators, directors, insurers, insurance intermediaries, investment firms and intermediaries and trust administrators.

Latest In Regulation

Banking deposits reach record high

Total deposits held with Guernsey banks at the end of September 2008 increased in Sterling terms by £8.2 billion from the end of June 2008 level of £128.1 billion to reach a new highest figure of £136.3 billion, representing a 6.4% increase over the quarter.

Wednesday 17 December 2008

Guernsey gets risk assessment

The Customs and Excise, Immigration and Nationality Service have recently conducted a joint exercise with Her Majesty’s Revenue and Customs (HMR&C) conducting a risk assessment around the movements of cash into and out of the Bailiwick of Guernsey.

Friday 12 December 2008

New money-laundering regulation announced

A new regulation has been introduced in the Bailiwick to assist the authorities to prevent money laundering within the Islands.

Thursday 04 December 2008

Offshore centres come under Chancellor's scrutiny

Rarely does the Island get much of a mention in Budget press releases, let alone the speech, but this year is an exception with the announcement of an immediate review into the long-term opportunities and challenges for the UK crown dependencies and overseas territories as offshore financial centres. Report by Graham Parrott, a Partner at Ernst & Young.

Tuesday 25 November 2008

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