Regulatory Alerts2025-05-08
Guernsey Financial Services Commission Feedback on Disclosure Rules for Insurance Intermediaries
The Guernsey Financial Services Commission has finalized amendments to the Insurance Intermediaries Rules following a December 2023 consultation, requiring licensed intermediaries to disclose their relationships with insurers and remuneration bases. These mandatory written disclosures aim to enhance client protection by revealing potential conflicts of interest and ensuring compliance with IAIS Insurance Core Principle 18. The amended rules, which include minor clarifications to existing provisions, will come into effect on 1 January 2025 to allow intermediaries adequate time for implementation.
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