Regulatory Alerts2025-02-13
Client Money - Investment - Thematic Review 2024
The Commission issued a 2024 thematic review assessing Client Money safeguarding controls at Guernsey-licensed investment entities, finding generally robust practices with a 100% response rate. The review highlights that while segregation, reconciliation, and audit processes are largely compliant, licensees must embed local regulatory requirements into group policies and prevent overdrawn accounts through better banking oversight. Additionally, the Commission requires accurate data reporting and mandates that any Client Money held outside Approved Banks must be supported by formal modification requests to ensure regulatory compliance.
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