This article focusses on the approach to enforcement taken by
the Commission and the concomitant new Financial Services Business
(Enforcement Powers) (Bailiwick of Guernsey) Law, 2020
("the Enforcement Law").
Themes and principles informing enforcement by the Commission
under the amended legislation
The overall theme of the legislative amendments has been to
convert and consolidate what was previously existing and/or good
practice whether on the part of the Commission or any licensee into
legislative requirements, both in terms of expanded duties upon
licensees and others, and enhanced and expanded powers for the
Commission in the enforcement of these requirements. These
have been codified in the Enforcement Law.
