Regulatory Alerts2020-11-23
Risk-based Supervision in Guernsey
The Guernsey Financial Services Commission implements a risk-based supervisory framework to prioritize resources on firms posing the greatest threat to financial stability and consumers. This methodology utilizes the PRISM system to assess firm impact and probability, enabling structured engagement plans that focus on mitigating unacceptable risks at high-impact entities. The approach combines proactive supervision of significant firms with reactive oversight of lower-impact entities, supported by thematic reviews and rigorous quality assurance processes.
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