The rising level of inflation and increasing cost of living, particularly for the less well-off, are recognized in Guernsey’s 2023 Budget. The 7% uplift in the personal allowance to £13,025 far exceeds the 2.9% annual average increase over the past decade, but does no more than maintain the...

From blame culture and obstacles through responsive decision-making to the adoption of technology and its associated risks, the report looks at all aspects of risk management and mitigation.

Over recent years it has been well documented that Guernsey is facing an ageing population, many  of whom may not have been given the opportunity to make adequate provision for their retirement.  Although some employers offer a workplace pension others do not and this may place their employees...

The Revision of Laws project was kicked off when the GFSC published a Discussion Paper back in November 2014.  The aim of the project was to introduce some standardisation within the various laws and bring them in line with international standards.  There have been numerous iterations...

One of the most significant changes on the regulatory horizon is the proposed introduction by the GFSC of the ancillary vehicle notification regime. For many licensees involved in the administration of fund structures this will be a very welcome development which will address an unfortunate...

Report: The art of the unknown

Twelve months have now passed since the Guernsey Financial Services Commission (“GFSC”) introduced Appendices H and I to its Handbook on Countering Financial Crime and Terrorist Financing (“the Handbook”), aimed at providing further information to businesses on those countries considered to pose...

William Callewaert from BDO Limited shares his experience of how to deal with so called ‘Zombie funds’.

The introduction of Limited Liability Companies (“LLC”) legislation will enhance Guernsey’s competitive position with an attractive vehicle for international finance business, especially from the US.