Statements
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Amendment to the Financial Services (Insurance Distribution) Regulations 2020
22 Jun 20
Please note an amendment was made to the Financial Services (Insurance Distribution) Regulations 2020 on 11th June 2020. This amendment includes changes to the minimum capital requirements and Professional Indemnity Insurance for Insurance and Reinsurance Intermediaries. … -
COVID-19: AML/CFT systems of controls
19 May 20
We are all facing an unprecedented set of circumstances as a result of the COVID19 pandemic. The prevention of financial crime continues to be one of the main objectives of the GFSC. Therefore our expectation is that firms continue to apply robust systems of controls to … -
Consultation draft: 2020 National Risk Assessment Money Laundering and Terrorist Financing Risks
07 May 20
The AML/CFT National Coordinator has published a consultation draft of the revised 2020 National Risk Assessment for Money Laundering, Terrorist Financing and Proliferation Financing. A copy of the draft has been circulated to all regulated entities for information, … -
COVID-19: GFSC update to auditors and firms on submission requirements for financial statements
30 Mar 20
The COVID-19 (Coronavirus) pandemic is significantly impacting auditors and their clients. Whilst the GFSC expects auditors to continue to follow and comply with standards in respect of audits we understand and acknowledge that there are certain challenges caused by the … -
COVID-19: Handling customer expectations
26 Mar 20
The GFSC is maintaining a watching brief of the developments regarding the COVID-19 pandemic so that we can respond appropriately. We remain in regular contact with firms and are monitoring how operations and customer expectations are being managed. We are keeping up …