Regulatory Alerts2025-05-16
Discussion Paper on the New Fiduciary Licence Categorisation (August 2020)
The Guernsey Financial Services Commission proposes replacing lead and joint fiduciary licences with primary and secondary categories under the 2020 Fiduciaries Law. This framework prohibits secondary licensees from actively trading, defined as charging or receiving fees directly from third parties, while restricting their ownership to subsidiaries or holding companies of primary licensees. The Commission seeks public feedback on this definition by 5 October 2020 to inform subsequent detailed policy proposals and transition rules.
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