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Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (Consolidated)

Guernsey Financial Services Commission (GFSC) · Guernsey

In force

Status per Guernsey Legal Resources (guernseylegalresources.gg) (as at 2026-07-25)

Consolidated text incorporating amendments up to the Lending, Credit and Finance (Equity Release) (Amendment) Regulations, 2025.

View on GFSC's website Source document

Current version last checked: 2026-07-12

Summary

This is the consolidated text of Guernsey's principal law regulating lending, credit, financial firm businesses, virtual asset service providers, and digital financial platforms and intermediation. It establishes a licensing regime administered by the Guernsey Financial Services Commission (GFSC) covering four main areas of activity, plus general regulatory, supervisory, disclosure and enforcement provisions that apply across all of them.

  • Part II - Credit business: Prohibits providing credit or services ancillary to credit (loans, hire purchase, credit/charge cards, credit brokerage, debt administration, and from 1 January 2026 equity release finance) without a Part II licence, subject to exemptions.
  • Part III - Financial firm businesses and VASPs: Prohibits carrying on financial firm business (as listed in Schedule 1 Part A) or acting as an unlicensed virtual asset service provider without a Part III licence.
  • Part IV - Financial platforms and intermediation: Prohibits operating peer to peer platforms, crowdfunding platforms, or alternative non-bank credit or finance intermediation by digital or other means without a Part IV licence.
  • Part V - General regulatory provisions: Covers fees, principles of conduct for licensees, the Commission's power to issue directions, disapplication of licensing requirements, supervised roles, and notification/objection processes for holders of approved and vetted supervised roles.
  • Part VI - Supervisory and accounting requirements: Sets out appeal rights against Commission decisions, powers to require information/documents and appoint skilled persons, document retention duties, audited accounts and auditor notification requirements, and controls on advertising and unsolicited calls.
  • Parts VII-VIII - Confidentiality and offences: Restricts disclosure of information obtained under the Law (with specified exceptions) and sets penalties, director liability, and jurisdictional provisions for contraventions.
  • Schedules: Define financial firm businesses and regulated/incidental activities (Schedule 1), list repeals and amendments (Schedules 2-3), set minimum criteria for licensing (Schedule 4), and define holding/subsidiary company relationships (Schedule 5).

The Law replaces and consolidates earlier regimes, including repealing the Registration of Non-Regulated Financial Services Businesses (Bailiwick of Guernsey) Law, 2008, and has been amended since enactment, including 2025 amendments extending its scope to equity release finance and home reversion finance with effect from 1 January 2026. Enforcement action (investigation, prosecution and sanctions) is dealt with separately under the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020.

Key obligations

  • Persons must not provide, offer to provide or hold themselves out as providing credit or services ancillary to credit by way of business without a Part II licence from the Commission.
  • Persons must not carry on financial firm business as defined in Schedule 1 Part A without a Part III licence.
  • Persons must not act as a virtual asset service provider without a Part III licence.
  • Persons must not operate peer to peer platforms, crowdfunding platforms or alternative non-bank credit or finance intermediation without a Part IV licence.
  • Licensees must comply with the Commission's principles of conduct and any directions issued under the Law.
  • Licensees must notify the Commission of, and the Commission may object to, holders of approved and vetted supervised roles, and notify changes of supervised role holders.
  • Licensees must make audited accounts available for inspection and notify the Commission in respect of auditors.
  • Licensees and applicants must supply information reasonably required by the Commission to assess compliance with the minimum criteria for licensing in Schedule 4.
  • Documents must be retained as required during investigations and submitted to the Commission in electronic form and by electronic means where required.
  • From 1 January 2026, providers of equity release finance and home reversion finance, and those advising on equity release finance, fall within the scope of regulated credit business and ancillary services.

Applies to

credit providers, providers of services ancillary to credit, financial firm businesses, virtual asset service providers (VASPs), peer to peer platform operators, crowdfunding platform operators, alternative non-bank credit or finance intermediaries, licensees generally under Parts II, III and IV, auditors of licensees

Deadlines

  • 1st January, 2026: Amendments bringing equity release finance and home reversion finance (and advising on equity release finance) within the scope of regulated credit and ancillary services take effect.

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Version history

2026-07-12

source file (current)