Monday, June 11, 2012

Guernsey Regulator Consultation on Changes to AML/CFT Regulations and Handbooks

The Guernsey Financial Services Commission has written to the managing directors of all financial services businesses, seeking comments on proposed changes to the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 (the “Regulations”), the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing (the “Handbook”), schedules 1 and 2 to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 (the “1999 Law”) and schedule 1 to the Registration of Non-Regulated Financial Services Businesses (Bailiwick of Guernsey) Law, 2008 (the “2008 Law”).
 
A copy of the proposed amendments to the FSBs Regulations highlighted in purple are available here.
 
A copy of the proposed amendments to the FSBs Handbook highlighted in red are available here.
 
A copy of the proposed amendments to schedules 1 and 2 to the 1999 Law highlighted in blue are available here.
 
A copy of the proposed amendments to schedule 1 to the 2008 Law highlighted in blue are available here.
 
The Commission has also written to the managing directors/partners of prescribed businesses seeking comments on the proposed changes to the Criminal Justice (Proceeds of Crime) (Legal Professionals, Accountants and Estate Agents) (Bailiwick of Guernsey) Regulations, 2008 (the “PB Regulations”) and the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime and Terrorist Financing (the “PB Handbook”).
 
A copy of the proposed amendments to the PB Regulations highlighted in blue are available here.
 
A copy of the proposed amendments to the PB Handbook highlighted in red are available here.

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