Guernsey's long-term project to revise and restate its suite
of regulatory laws has been completed and the resulting laws come
into effect on 1 November 2021.
The process, which commenced on 10 November 2014 with the
publication by the Guernsey Financial Services Commission
(GFSC) of a discussion paper has culminated in a
new Financial Services Business (Enforcement Powers) (Bailiwick of
Guernsey) Law, 2020 (Enforcement Law),
in which the powers of the GFSC in relation to enforcement,
sanctions and penalties (criminal, civil and administrative) have
been consolidated from the Financial Services Commission (Bailiwick
of Guernsey) Law, 1987 and the other regulatory laws and which now
also houses the market abuse provisions previously in the
Protection of Investors (Bailiwick of Guernsey) Law,1987. In
addition the principal regulatory laws themselves have been
amended, and in some cases repealed and replaced, as follows:
