Regulatory Alerts2020-11-23
Prescribed Businesses Instruction (Number 04)
The Guernsey Financial Services Commission issued this instruction to mandate rigorous employee screening for prescribed businesses following law enforcement concerns about unverified qualifications. The directive requires the board of each prescribed business to review compliance with specific anti-money laundering regulations and conduct detailed checks on the professional memberships and credentials of potential employees. All identified deficiencies must be remedied by the close of business on 29 January 2010, with compliance subsequently verified through on-site inspections.
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