Regulatory Alerts2025-05-14
Consultation Paper on the Annual Compliance Return Rules proposed to be issued under the Banking Supervision (Bailiwick of Guernsey) Law, 2020
The Guernsey Financial Services Commission issued this consultation paper on September 2, 2021, seeking feedback from licensed banks on proposed Annual Compliance Return Rules to be issued under the Banking Supervision (Bailiwick of Guernsey) Law, 2020. The proposed rules re-issue existing guidance on the Annual Compliance Form as statutory rules to align with the new legislative framework, ensuring the annual review and other compliance elements remain consistent with current practices. The consultation period closed on September 15, 2021, with the Commission intending to finalize the rules and withdraw the previous guidance during 2021.
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