63 results found

In the midst of the ongoing global turmoil caused by the Covid-19 pandemic, Guernsey's finance industry has emerged from the local lockdown in a relatively strong condition.

The Handbook on Countering Financial Crime and Terrorist Financing (the Handbook) issued by the Guernsey Financial Services Commission (the Commission) is a statement of the standards...

The following is an overview of ways in which the GFSC gathers information.

The Commission is committed to international regulatory co-operation and is a signatory to the IOSCO and IAIS memorandums of understanding.

In March of last year, the UK Parliament enacted the Small Business, Employment Act 2015 which contains amendments to the Companies Act 2006.

Carey Olsen partner Mark Dunster and counsel Simon Florance consider the recent judgment in Liang v RBC Trustees (Guernsey) Limited – the first time a private law action...

Guernsey's anti-money laundering regime faces a critical juncture as authorities consult on reforms to comply with revised FATF Recommendations requiring maximum durations for transaction suspensions. The consultation presents four options, ranging from maintaining the problematic status quo to adopting a deemed consent mechanism similar to the UK's 23-year-old model, each with significant implications for financial institutions and their ability to manage suspected criminal property.

I am not at all surprised by this finding.

The Guernsey Financial Services Commission (GFSC) has updated the Handbook on Countering Financial Crime (AML/CFT/CPF) (Handbook)...

Guernsey has recently introduced a registration regime (the "Director Registration Regime") for persons relying on the "Six Directorships Exemption", under which directors...

In April 2017, the Cayman Islands Government met its commitment to the UK Government made a year earlier by enacting a regime requiring Cayman Islands companies to maintain registers of their beneficial owners.

British Crown Dependencies (CDs) and Overseas Territories (OTs) do not presently have registers of trusts. However, they have introduced beneficial ownership registers ...

Proliferation and proliferation financing (collectively "PPF") are both significant threats to global peace and security. Given current instability arising from...

The starting point, in Guernsey, is that every person is entitled to the peaceful enjoyment of their property. This right is not absolute but any infringement by the State must be proportionate...

The (as yet, unreported) decision of the Court of Appeal in the matter of "The Chief Officer, Customs & Excise, Immigration and Nationality Service -v- Garnet Investments Limited" could have wide ramifications for the banking industry and those regularly subject to the reporting regimes under the Criminal Justice (Proceeds of Crime) Bailiwick of Guernsey Law 1999 (the Proceeds Law).

It also looks at the general considerations which businesses ought to bear in mind when considering how and for what length of time to keep documents and records.

As of 1 July 2021, the economic substance legislation in Jersey and Guernsey will apply to newly-formed partnerships.

On 20 April 2022, the Financial Action Task Force (FATF) published what it termed a landmark report on the state of effectiveness and compliance with the FATF standards.