Finance business in Guernsey is supervised by the Commission which was established under the Financial Services Commission (Bailiwick of Guernsey) Law 1987 and commenced operations on 1 February 1988.
The insurance, banking and investment business supervisors all work together under the guidance of the Commission's Director-General, in supervising and developing the financial services sector. As each of the three sub-sections are often inter-related, this policy has proved to be very effective. This method of consolidated supervision and finance development was, until recently, unique in the finance world and is now being copied by other domiciles.
Peter Crook, Director-General of the Financial Services Commission, says: 'The island is fortunate to have developed such an infrastructure of varied professional expertise which I see as one of the benefits of being one of the world's more mature international finance centres. It is certainly something very positive which places us firmly ahead of most of the newer centres springing up around the world'.
For further information contact John Roper on Tel: +44 (0) 1481 712 706 or Fax: +44 (0) 1481 712 010.
The contents of this article are intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.