Wednesday, 5 October 2011

Guernsey: Finance Sector Code of Corporate Governance

The Guernsey Financial Services Commission (GSFS) has published its Finance Sector Code of Corporate Governance: see here (pdf). The Code contains principles and guidance and comes into force on 1 January 2012. From 2012, companies will be required to produce an assurance statement, in which their directors confirm that they have considered the effectiveness of their governance arrangements and are satisfied with their degree of compliance with the Code's principles (or the alternative Codes accepted by the GFSC). Precisely when and how these statements should be provided has not yet been decided.

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