The FRR Rules have been issued by the Guernsey Financial Services Commission (the "Commission") and come into force on 28 February 2018. An extract from the Commission's news page has been provided below. Further information along with the rules can be found on the news section and on the Fiduciary Legislation and Guidance page on www.gfsc.gg. EXTRACT: "The FRR Rules replace those requirements found under a number of Codes of Practice and have been drafted in accordance with international best practice, as per the GIFCS Standard, and focus primarily on liquidity requirements. These rules are intended to provide a level of assurance that all full fiduciary licensees are in a sound financial
A consultation paper was issued in July 2017 seeking feedback on regulatory proposals for firms involved in lending, credit and finance. The feedback has now been released and can be found on the news section on www.gfsc.gg.
The Guernsey Financial Services Commission has recently published the following in relation to the consultation process. EXTRACT: "The consultation process closed on 4 September 2017 and the Investment Supervision and Policy Division has received a number of responses. The Division is grateful to everyone who took the trouble to respond. The Division is giving careful consideration to the views and opinions expressed by respondents and further discussions will be held with the Guernsey Investment Fund Association before amended rules are implemented. The Division is grateful to everyone who is assisting us as this dialogue progresses."
DEADLINE FOR RESPONSES: 30 March 2018 The Guernsey Financial Services Commission is seeking feedback on the draft Protection of Investors Law and proposed definitions to be used across the revised supervisory laws. The Citizen Space online consultation tool will be used for responses on this consultation paper. Further information can be found under the news section on www.gfsc.gg.