Regulatory Alerts2022-09-20
Licensees (Conduct of Business) Rules and Guidance 2021
The Guernsey Financial Services Commission issued the 2021 consolidated rules to replace the 2016 version and regulate the conduct of business for all licensees under the Protection of Investors Law. The document mandates strict corporate governance, requiring boards to maintain effective compliance arrangements, appoint resident compliance officers, and implement rigorous employee screening and training schemes. It further establishes detailed operational standards for client categorization, asset safekeeping, record keeping, and the management of conflicts of interest to ensure investor protection.
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