Regulatory Alerts2025-05-12
Guernsey Financial Services Commission Consultation Paper on The Lending, Credit & Finance Rules, Guidance and Implementation
The Guernsey Financial Services Commission issued this consultation paper to seek feedback on the proposed Rules and Guidance implementing the Lending, Credit and Finance (Bailiwick of Guernsey) Law 2022. The new regulatory framework introduces mandatory licensing for consumer credit providers, financial firm businesses, virtual asset service providers, and crowdfunding platforms to enhance consumer protection and ensure compliance with international standards. The document outlines the scope of the law, minimum licensing criteria, specific conduct rules for various licensee categories, and the associated fee structure, with responses requested by September 15, 2022.
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