Regulatory Alerts2025-08-01
Guernsey Financial Services Commission Feedback on Lending, Credit & Finance Rules Consultation
The Guernsey Financial Services Commission issued final rules and guidance following a consultation on the Lending, Credit and Finance Law, establishing a licensing regime effective July 1, 2023. The regulator significantly reduced and tiered fees for credit brokers and motor traders while introducing specific exemptions for employee loans, family lending, and small-scale appointed traders. The framework mandates licensing for existing credit businesses by the implementation date, with a fee reduction incentive for applications submitted before March 31, 2023, and maintains regulatory oversight for high net worth individuals to ensure consumer protection.
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