Guernsey Financial Services Commission (“GFSC”)
Guernsey, Channel IslandsThe Guernsey Financial Services Commission is the regulatory body for the finance industry in the Bailiwick of Guernsey. We seek to secure good regulatory outcomes with integrity, proportionality and professional excellence, thereby generating confidence in the Bailiwick as a jurisdiction.
We are an independent public body funded entirely by charging the licensees we regulate fees.
Geographical Jurisdiction
Bailiwick of Guernsey, Channel Islands.The Commission supervises and regulates licensees from within the banking, fiduciary (trust and corporate service providers), insurance, investment (funds and asset managers) and pension, sectors in the jurisdiction. We do so in accordance with standards set by international bodies such as the Basel Committee for Banking Supervisors, the International Association of Insurance Supervisors, the International Organisation of Securities Commissions and the Financial Action Task Force on Money Laundering.
- Guidance on the application of laws and rules to innovative business models
- Support with authorisation to operate in our jurisdiction
- Waivers or exemptions, for any entity meeting certain criteria
- Engagement with firms on regtech and suptech solutions
- Engagement with innovators and/or other third parties (e.g. academics, consultants and other organisations)
- Facilitating hackathons, TechSprints or similar events
Focus Area
- Business Model – including Ownership structure and Presence in the jurisdiction
- Risk Identification and Mitigation
- Fintech, regtech or suptech models welcome, although likely to fall outside of regulation
