Regulatory Alerts2020-11-23
Legal Risk Guidance Note for Banks
The Guernsey Financial Services Commission issues this guidance to help banks identify and manage key legal risks within the jurisdiction. The document outlines critical areas including mis-selling, cross-border complexities, documentation standards, and independence in risk assessment. It further warns against relaxed legal risk acceptance regarding group credit exposures and insolvency scenarios, urging firms to ensure robust contractual protections.
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