Regulatory Alerts2025-05-13
Bailiwick Mind and Management Consultation Paper (February 2022)
The Guernsey Financial Services Commission issued this consultation paper to seek feedback on proposed guidance clarifying that local mind and management is a relevant factor in assessing the prudent conduct of business under the Bailiwick's Supervisory Laws. The Commission proposes amending the Licensees (Conduct of Business) Rules and Guidance, 2021, and the Fiduciary Rules and Guidance, 2021, to explicitly state that the number of senior executives resident in the Bailiwick will be considered when evaluating management oversight. Stakeholders are invited to submit their responses to these proposals by 21 March 2022 via the Commission’s Consultation Hub.
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