Snapshot: How Does The GFSC Gather Information - And Is It Protected?

In order to discharge its functions effectively the Guernsey Financial Services Commission (GFSC) requires a broad range of information, which often comes from the very licensees it regulates. Much of that information will be confidential (if not commercially sensitive), meaning the licensees will want to understand whether it is protected in the GFSC's hands.

This briefing summarises various ways in which the GFSC gathers the information it needs and outlines the extent of the protections afforded to that information.

How does the GFSC gather information from licensees?

It is important that licensees or registered entities provide the GFSC with the information that it reasonably requires: a failure to comply with the GFSC's information requirements (or the provision of false or misleading information) can potentially give rise to regulatory sanction and/or constitute a criminal offence. The following is an overview of ways in which the GFSC gathers