08/04/2023
Commission granted leave to appeal
The Commission has been granted leave to appeal the judgment of LB Marshall KC in the case of Domaille, Clarke & Hannis and the Guernsey Financial Services Commission.
Regulation, Risk & Compliance
08/04/2023
Landmark regulation case heading for appeal
She has granted leave to appeal in a case which will continue to be watched by industry, saying that there will be a public interest case in many of the issues raised by the commission.
08/03/2023
Insurers insist they cannot give contractors annual insurance policies
Insurance association insists there are 'extremely valid reasons' for its position
08/03/2023
Fitch: Prudential financial transactions to have favourable longer-term impact
The block of business represents approximately one-third of Prudential’s in-force guaranteed universal life statutory reserves.
08/03/2023
FirstCaribbean to raise interest rates on borrowing again
CIBC FirstCaribbean noted that any customers that have queries should contact their Branch or Relationship Manager.
08/01/2023
Consultation on increasing Recognized Auditor Fees by 20%
This increase is in-line with the other Crown Dependencies and our Business Plan.
08/01/2023
IMF gives Malta top billing for data transparency standards
Malta becomes 31st country to adhere to IMF's SDDS Plus
08/01/2023
New rules likely for distributing unclaimed millions from funds
Unclaimed monies are sitting in 11.5% of older, open-ended funds, and only 2% of closed-ended schemes
08/01/2023
Quarterly round-up of the recent investment funds updates in Guernsey
The Commission’s latest annual report highlights the increased risks faced by the financial services sector
07/31/2023
Cayman mortgage rates going up again
There’s some temporary respite for homeowners, already struggling to cope with rocketing mortgage repayments
07/31/2023
Fundraising slowdown and the rise of private credit
In a bid to stem rampant inflation, central banks across the world have been busy raising interest rates.
07/31/2023
Bermuda Public Companies Update, Summer 2023
Global merger and acquisition deals suffered a record decline in the first half of 2023.
07/31/2023
Update to Jersey's law on the probate offence of intermeddling
It is not obligatory to release estate up to £30,000 without a Grant
07/31/2023
Central Bank discussion paper on a macroprudential policy for investment funds
The purpose of this Paper is to advance the debate on a potential future approach to the development and operationalisation of a macroprudential framework for the investment funds sector.
07/28/2023
Luxembourg Investment Fund Changes
The Law amends the four laws currently regulating investment funds, more commonly known as the 'product' laws.
07/28/2023
Government to set up climate change authority
After power cut crisis, Prime Minister announces government will be doubling its investment in the country’s distribution network
07/28/2023
Bahamas’ public service payroll system leaks millions in overpayments
Wilson shared that there are instances of employees who have been receiving a paycheck for decades, even though there is no record of their service or productivity.
07/28/2023
St Kitts and Nevis announces further monumental changes to its Citizenship by Investment Programme
All background due diligence checks will be commissioned by the Citizenship by Investment Unit
07/27/2023
Guernsey States staff to get 5.8% pay rise in 2024
The States announced the RPIX between April and June was 6.8%, 0.2% lower than June 2022.
07/27/2023
Clarien and Butterfield raise rates, HSBC holds for now
Its move comes as central banks globally raise the cost of money in the battle with inflation, with consumers struggling to make ends meet as prices remain elevated and in some cases continue to rise.