Financial Crime Returns Rules, 2025

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

Summary

These Rules, made by the Guernsey Financial Services Commission and effective from 2 May 2025, consolidate and update the recurring financial crime reporting obligations for Guernsey licensees and registrants, replacing the 2023 version. They set out four distinct returns, their scope, reporting periods and filing deadlines.

Financial Crime Risk Return: Annual return filed by licensees and registrants covering activity under the Proceeds of Crime Law, for the period 1 July to 30 June, due by 31 October following the period end.
Prescribed Business Return: Annual return filed by registrants detailing Schedule 2 prescribed business activities, same 1 July to 30 June period, due by 31 October following the period end.
Intermediary Annual Multi-Scheme Return: Annual return filed by designated administrators of authorised or registered collective investment schemes under the PoI Law, covering 1 April to 31 March, due by 31 May following the period end.
Financial Flows Return: Quarterly return filed by banking licensees and certain licensees under Schedule 1 of the Proceeds of Crime Law (excluding bureau de change and cheque cashing), with reporting periods and filing dates set out in Schedule 1 of the Rules.

Fiduciary structures: A primary fiduciary licensee must file either its own return or a consolidated return covering itself and all secondary fiduciary licensees for which it is designated primary.
Cell companies: A Protected Cell Company or Incorporated Cell Company must file one consolidated return for itself and its cells, unless an Incorporated Cell is separately licensed, in which case separate returns are required.
Insurance managers and intermediaries: Insurance managers must report on all business conducted regardless of insurance type; insurance intermediaries and insurers with mixed long term and non-long term business report only the long term business subject to Schedule 3.
Business acquisitions: If a licensee or registrant acquires a book of business during a reporting period, it must include data on that acquired business for the entire reporting period in its return.

Certain categories are excluded from these Rules altogether, including personal fiduciary licence holders, general-insurance-only licensees, certain LCF ancillary/credit-provision-only licensees, and businesses under specific Proceeds of Crime Law schedule provisions. The Commission may exclude or modify application of any provision by written notice and may issue non-binding supplementary guidance.

Key obligations

Licensees and registrants (other than those excluded) must file a Financial Crime Risk Return for the period 1 July to 30 June, by 31 October following the period end.
Registrants must file a Prescribed Business Return for the period 1 July to 30 June, by 31 October following the period end.
Designated administrators of collective investment schemes under the PoI Law must file an Intermediary Annual Multi-Scheme Return for the period 1 April to 31 March, by 31 May following the period end.
Banking Law licensees and certain Schedule 1 registrants (excluding bureau de change/cheque cashing) must file a quarterly Financial Flows Return by the dates set out in Schedule 1.
A primary fiduciary licensee must file its own return or a consolidated return covering itself and its secondary fiduciary licensees.
A Protected Cell Company or Incorporated Cell Company must file one consolidated return for itself and its cells, unless an Incorporated Cell is separately licensed, in which case separate returns must be filed.
Insurance managers must report on all business they conduct, regardless of the insurance type of the insurers they manage.
A licensee or registrant that acquires a book of business during a reporting period must include the acquired business's data for the full reporting period in its returns.

Applies to

licensees, registrants, banks (Banking Law licensees), insurers (IB Law licensees), insurance managers and insurance intermediaries (IMII Law), fiduciary licensees (primary and secondary), designated administrators of collective investment schemes (PoI Law), Protected Cell Companies and Incorporated Cell Companies, prescribed businesses registered under Schedule 5 of the Proceeds of Crime Law

Deadlines

31 October immediately following the end of the reporting period: Filing deadline for the Financial Crime Risk Return (reporting period 1 July to 30 June).
31 October immediately following the end of the reporting period: Filing deadline for the Prescribed Business Return (reporting period 1 July to 30 June).
31 May immediately following the end of the reporting period: Filing deadline for the Intermediary Annual Multi-Scheme Return (reporting period 1 April to 31 March).
31 May: Financial Flows Return filing deadline for reporting period 1 January to 31 March.
31 August: Financial Flows Return filing deadline for reporting period 1 April to 30 June.
30 November: Financial Flows Return filing deadline for reporting period 1 July to 30 September.
Last day of February: Financial Flows Return filing deadline for reporting period 1 October to 31 December.
2nd May 2025: Effective date on which these Rules come into force, revoking the Financial Crime Returns Rules, 2023.

Financial Crime Returns Rules, 2025

Summary

Key obligations

Applies to

Deadlines

Related documents

Topics

Version history

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