ARTICLE · 15 JANUARY 2025

Channel Islands Regulatory Update: January 2025

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This update provides an overview of the recent key publications, findings and reports issued during the last quarter.

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Chris Hutley-Hurst

Amman Bulchandani

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This update provides an overview of the recent key publications, findings and reports issued during the last quarter.

You can find previous editions of our Regulatory updates here:

Channel Islands Regulatory Update: October 2024

Channel Islands Regulatory Update: August 2024

Guernsey

Legislative update

1. On 5 December 2024 the UK's Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2024 came into force. The UK Regulations are made under the UK Sanctions and Anti-Money Laundering Act 2018 ("SAMLA") and make various amendments to existing UK sanctions regulations in order to enhance compliance, enforcement and clarity in the UK sanctions framework. Through the provisions of the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020, several legislative changes took effect automatically in Guernsey when the UK Regulations came into force.

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