We explore what trustees need to be aware of when dealing with data and complying with their obligations under the Data Protection (Bailiwick of Guernsey) Law, 2017 and related legislation (the "DP Law")....more
2/5/2025
/ Compliance ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Island of Guernsey ,
Personal Data ,
Popular ,
Privacy Policy ,
Reporting Requirements ,
Risk Management ,
Trustees ,
Trusts
On 5 December 2024 the UK's Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2024 came into force. The UK Regulations are made under the UK Sanctions and Anti-Money Laundering Act 2018 ("SAMLA") and make...more
1/10/2025
/ Anti-Money Laundering ,
Artificial Intelligence ,
Beneficial Owner ,
Compliance ,
Data Breach ,
Data Protection ,
Deferred Prosecution Agreements ,
Financial Crimes ,
Financial Services Industry ,
Income Taxes ,
Investors ,
Island of Guernsey ,
OECD ,
Proposed Rules ,
Risk Assessment ,
Sanctions ,
Sanctions and Anti-Money Laundering Act 2018 (SAMLA) ,
Terrorist Financing ,
UK
Guernsey has passed legislation to implement the OECD's global minimum tax rate of 15%, known as "Pillar 2", which will apply for fiscal years commencing on or after 1 January 2025....more
Jersey has passed legislation to implement the OECD's global minimum tax rate of 15%, known as "Pillar 2", which will apply for fiscal years commencing on or after 1 January 2025....more
The financial services sector in the Channel Islands has seen the publication of a report by MONEYVAL, a proposal to increase administrative penalties and the release of two public statements.
The Bailiwick gambling...more
10/2/2024
/ AIFs ,
AML/CFT ,
Audits ,
Channel Islands ,
Compliance ,
Data Protection ,
Disclosure Requirements ,
Fees ,
Financial Crimes ,
Gambling ,
Money Laundering ,
OECD ,
Penalties ,
Regulatory Agenda ,
Reporting Requirements ,
Sustainability
Following Jersey's intention to implement the OECD proposals for a 15% global minimum tax rate (known as "Pillar 2") in May 2024, draft legislation has now been lodged introducing a new standalone Multinational Corporate...more
Following on from the Crown Dependencies re-affirming their commitment to implementing the Organisation for Economic Co-operation and Development’s Pillar Two framework for accounting periods commencing on or after 1 January...more
The Crown Dependencies have re-affirmed their commitment to international tax standards and the continued value of inter-island cooperation in areas of mutual interest in international tax policy.
Ministers from...more
This briefing is a part of a Walkers series on the Data Protection (Bailiwick of Guernsey) Law, 2017 (the "DPL"), and provides an overview of section 15 of the DPL (the Right to Access) and describes some key points which...more
This briefing is a part of a Walkers series on the Data Protection (Bailiwick of Guernsey) Law, 2017 (the "DPL"), and deals with the transfer of personal data outside Guernsey. A "data transfer" occurs when an individual's...more
Introduction This briefing is part of a Walkers series on the Data Protection (Bailiwick of Guernsey) Law, 2017 (the "DPL"), and provides an overview on personal data breaches. It describes some key points which...more
The Data Protection (Bailiwick of Guernsey) Law, 2017 (the "DPL") came into force on 25 May 2018 to coincide with the enforcement of the EU's General Data Protection Regulation (EU) 2016/670 (the "GDPR"). The European...more
This briefing is part of a Walkers series on the Data Protection (Bailiwick of Guernsey) Law, 2017 (the "DPL"), and provides an overview on what information organisations must provide data subjects when they collect...more
This briefing is part of a Walkers series on the Data Protection (Bailiwick of Guernsey) Law, 2017 ("the DPL") was drafted to reflect the EU's General Data Protection Regulation (the "GDPR"). The DPL came into effect on 25...more
The Minister for External Relations of the Government of Jersey (GoJ) recently announced a public consultation seeking views on a number of proposed changes to the operation of the Common Reporting Standard (CRS) and the US...more
In our recent article (available here) we reported that the Guernsey Financial Services Commission (the "GFSC") had been granted leave to appeal to the Court of Appeal. The GFSC obtained leave to appeal on the basis of a...more
Introduction -
The Trading Standards (Fair Trading) (Guernsey) Ordinance, 2023 (the "Trading Standards Ordinance") is due to come into force on 2 October 2023. From this date, businesses in Guernsey will be subject to...more
Introduction -
The Trading Standards (Fair Trading) (Guernsey) Ordinance, 2023 (the "Trading Standards Ordinance") is due to come into force on 2 October 2023. From this date, businesses in Guernsey will be subject to...more
8/22/2023
/ Bodily Injury ,
Burden of Proof ,
Compensation ,
Contract Terms ,
Financial Services Industry ,
Foreign Currency ,
Insurance Industry ,
Island of Guernsey ,
Negligence ,
Summary of Consumer Rights ,
Unfair Contract Terms
In our recent article (available here) we considered the findings of LB Marshall KC in Domaille, Clarke & Hannis (together the "Respondents") and the Guernsey Financial Services Commission (the "Royal Court Judgment"). In the...more
The recent decision of the Royal Court of Guernsey (the "Royal Court") in Domaille, Clarke and Hannis v Guernsey Financial Services Commission (available here) involved an appeal against sanctions imposed by the Guernsey...more
The Guernsey Financial Services Commission ("GFSC") updated its Handbook on Countering Financial Crime and Terrorist Financing (the "Handbook") in early July 2023 and the updates included a new requirement for a "specified...more
This briefing is the fourth in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCFL"), and provides an overview of the licensing regime applicable to Virtual Asset...more
This briefing is the third in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCFL"), and provides an overview of the licensing regime applicable to "financial firm...more
This briefing is the second in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the “LCFL”), and provides an overview of the licensing regime applicable to consumer...more
From 1 July 2023, the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCFL") came into full effect, replacing and expanding upon the previous now repealed regime under the Registration of Non-Regulated...more