Guernsey Secures Independent, International Commendation for Regulatory and Law Enforcement Standards

Guernsey's financial regulation and law enforcement standards are commended in a report published today by the International Monetary Fund (IMF).

Guernsey has been assessed by the IMF to have 'a high level of compliance' for each of the international standards against which the Bailiwick was judged - the Basel Core principles for Effective Banking Supervision; the Insurance Core Principles of the International Association of Insurance Supervisors (IAIS); the Objectives and Principles of Securities Regulation of the International Organization of Securities Commissions (IOSCO); and the Financial Action Task Force (FATF) 40+8 Recommendations. Guernsey's legal framework for company and trust service providers was also found by the IMF to be fully consistent with the Offshore Group of Banking Supervisors (OGBS) Statement of Best Practice for Company and Trust Service Providers. All of these standards have been adopted by Guernsey as the foundations on which to build its reputation as a leading finance centre.

To read the press release in full, please visit the press section of www.gfsc.guernseyci.com