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The
Guernsey Financial Services Commission has published a discussion paper titled
Revising the Bailiwick’s financial regulatory laws to maintain the Bailiwick’s reputation as an efficient and well-regulated international finance centre: see
here (
pdf). The paper contains many wide-ranging reform proposals, including the creation of a single statutory enforcement regime; prohibiting corporate directors from sitting on the boards of trust and corporate service providers; and giving the Commission the power to request meetings with the auditors of banks.
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