Regulatory Alerts2022-09-02
Fiduciary Rules and Guidance, 2021 (Consolidated Version)
The Guernsey Financial Services Commission issued this consolidated document to establish the regulatory framework for licensed fiduciaries under the Regulation of Fiduciaries Law 2020. The rules mandate strict corporate governance, effective management, and integrity standards while introducing a two-tier licensing system comprising primary and secondary fiduciary licenses. Licensees are required to maintain robust conflict of interest policies, safeguard client money in segregated accounts, and submit detailed financial reports and annual returns to ensure ongoing compliance.
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