Regulatory Alerts2022-11-18
Licensees (Capital Adequacy) Rules and Guidance, 2021 (consolidated text)
The Guernsey Financial Services Commission issued the Licensees (Capital Adequacy) Rules and Guidance, 2021, which replace the 2010 version and establish mandatory financial resource, liquidity, and insurance standards for regulated licensees. The rules specify minimum net asset thresholds based on licensee type, require professional indemnity insurance with defined coverage limits, and mandate immediate notification of breaches or anticipated solvency issues. Additionally, the document provides a framework for calculating financial resources and includes transitional arrangements for compliance with subsequent 2022 amendments.
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