Regulatory Alerts2023-06-23
Notice of Disapplication of Licensing Requirement under the Lending, Credit and Finance Law 2022
The Guernsey Financial Services Commission disapplies the requirement to hold credit business, financial firm business, and VASP licences under the Lending, Credit and Finance (Bailiwick of Guernsey) Law 2022 for specific categories of lenders. Exemptions cover lending to family members, employees, directors, and beneficial owners, as well as secured lending against non-residential or foreign real property and certain ancillary lending activities within regulated groups. The notice also exempts internal group lending, appointed retailers and motor traders providing simple repayment loans, and persons trading virtual assets for their own benefit.
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