ARTICLE · 13 JUNE 2014

Guernsey Financial Advice Standards - An Update

Collas Crill

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The Guernsey Financial Advice Standards (GFAS) is a set of standards to be introduced within Guernsey’s finance industry.

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Sean Cheong

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The Guernsey Financial Advice Standards (GFAS) is a set of standards to be introduced within Guernsey's finance industry. GFAS is particularly aimed at those providing investment advice to retail clients in the investment and insurance sectors.

Its implementation is, according to Carl Rosumek, Director of Investment Supervision and Policy Division at the GFSC, "intended to increase professional standards, make adviser charging more transparent and reduce potential conflicts of interest. This will contribute to the protection of the public against financial loss due to potential dishonesty, incompetence or malpractice by persons carrying on finance business".

GFAS is therefore designed to protect and enhance Guernsey's reputation as a leading international financial centre.

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Guernsey Financial Advice Standards - An Update

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