Guernsey plans to extend regulatory powers

In the 52-page document, the GFSC says following “the review of enforcement actions taken during the last five years, the Commission is of the view there have been a number of cases where management failings have been of such significance that, had the statutory powers been available, the Commission may have considered levying financial penalties and/or issuing a public statement”. It argues the use of such powers would send a signal “that particular failings should not only be remedied but also that they are unacceptable”. In addition, the GFSC argues it would make the “exercise of sig...