Tag: GFSC

New International Standards For Regulating Trust Company Business

| October 20, 2014 | 0 Comments

The Group of International Finance Centre Supervisors (“GIFCS”) has today launched a new benchmark for the regulation of Trust and Corporate Service Providers (“TCSPs”). Guernsey has been a champion of this new approach which has seen the GIFCS working group which developed the new standard being chaired by the Commission’s General Counsel, Philip Nicol-Gent. Mr […]

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2014 Commission announces 2015 Fees Tariff

| October 20, 2014 | 0 Comments

The Commission has confirmed that it will increase fees in 2015 for all sectors by an average of 1.33%. It will also continue with the implementation of the second year of a two-year approach to address certain anomalies in its fee structure which is aimed at providing some rebalancing where the cost of supervision of certain firms in […]

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Active Group appoints Senior Consultant

Active Group appoints Senior Consultant

| June 23, 2014 | 0 Comments

Active Group, a leading provider of regulatory and other support services with offices globally, has further added to its senior staff in Guernsey. David McCloskey joins Active from the Guernsey Financial Services Commission and has been appointed as Senior Consultant for the Group. David said “I am delighted to be joining Active in this exciting […]

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Guernsey adds 100+ new funds during 2013

Guernsey adds 100+ new funds during 2013

| March 6, 2014 | 0 Comments

Guernsey’s financial services regulator approved 30 new investment funds during the fourth quarter of last year, which means that that there were a total of 103 additions during 2013. Figures from the Guernsey Financial Services Commission (GFSC) show that 16 new funds were approved during the first quarter of last year, 24 during the second, […]

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ILS helps Guernsey license 89 international insurers in 2013

ILS helps Guernsey license 89 international insurers in 2013

| January 20, 2014 | 0 Comments

The Guernsey Financial Services Commission (GFSC) licensed 89 new international insurers during 2013. This includes 10 limited companies, 6 Protected Cell Companies (PCCs), 63 PCC cells, 2 Incorporated Cell Companies (ICCs) and 8 ICC cells. It means that there were 758 international insurers licensed in the Island at the end of December 2013. This number […]

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Guernsey adds 33 new funds in Q3 2013

Guernsey adds 33 new funds in Q3 2013

| December 18, 2013 | 0 Comments

Guernsey’s financial services regulator approved 33 new investment funds during the third quarter of 2013. Figures released today by the Guernsey Financial Services Commission (GFSC) show that it approved five open-ended funds, 19 closed-ended funds and nine non-Guernsey schemes between the start of June and the end of September this year. Taking into account licences […]

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Commission announces 2014 Fees Tariff

| October 30, 2013 | 0 Comments

On the 28th August, the Commission launched a consultation paper setting out its proposals in respect of its 2014 licence fees. The consultation period closed on the 9th October. Two options were explored in the consultation paper. Option 1 involved an increase across the board of 1.25%. Option 2 was a differential option aimed at […]

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GFSC appoints special advisor on Government and Public Affairs

| August 12, 2013 | 0 Comments

The Guernsey Financial Services Commission has appointed a Special Advisor on Government and Public Affairs. Former civil servant Dale Holmes will take up the newly-created role at the beginning of September. He will work full time for the Commission, helping it improve its interaction with officials, politicians, the media and representative bodies within the Bailiwick. […]

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GFSC signs co-operation agreements with European Securities Regulators

| July 12, 2013 | 0 Comments

Following the European Securities and Markets Authority’s (ESMA) approval of the co-operation arrangements the Guernsey Financial Services Commission (GFSC) has signed 27 bi-lateral co-operation agreements with the following EU/EEA securities regulators for the supervision of alternative investment funds, including hedge funds, private equity and real estate funds: EU/EEA Authority Autoriteit Financiële Markten (The Netherlands) Autorité […]

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GFSC modernises structure to face future challenges

| June 19, 2013 | 0 Comments

The Guernsey Financial Services Commission is changing its internal structure to bring supervision and policy functions together thereby helping to increase the Commission’s effectiveness. Some senior personnel will change roles to facilitate the changes, which are designed to be cost neutral. Specifically, the Banking and Insurance Divisions will merge to form a new Division to […]

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