Guernsey's fiduciary sector was one of the first in the
world to be comprehensively regulated. Since April 2001, subject to
a narrow range of exemptions, anyone offering trust and corporate
services from Guernsey for a fee has had to be licensed by the
Guernsey Financial Services Commission. The regulatory regime has
been revised recently: The Regulation of Fiduciaries,
Administration Businesses and Company Directors, etc (Bailiwick of
Guernsey) Law, 2020 (the Law) came into
effect on 1 November 2021, replacing the 2000 iteration of that
law, and was accompanied by the Fiduciary Rules and Guidance, 2021
(the Rules) which set out the standards to be
met by licensed fiduciaries.
Although the revised regime in the main standardises and
consolidates laws and rules that already existed, a few significant
changes have been introduced.
