The Guernsey Financial Services Commission has amended its public guidance on private trust companies (PTCs), setting out a revised position that PTCs fall within the scope of The Regulation of Fiduciaries, Administration Business and Company Directors, etc (Bailiwick of Guernsey) Law, 2020. Under the updated guidance, a PTC should either apply for a licence under section 6 of the Law or obtain permission under section 3(1)(ac). The change follows the Commission’s review of PTCs conducted last year and is intended to align the published guidance with current practice.
Guernsey Financial Services Commission 2025-09-03
Guernsey Financial Services Commission amends private trust company guidance to require licensing or permission under the fiduciaries law
The Guernsey Financial Services Commission revised its guidance on private trust companies (PTCs), clarifying they fall under The Regulation of Fiduciaries, Administration Business and Company Directors, etc (Bailiwick of Guernsey) Law, 2020. PTCs must now apply for a licence under section 6 or obtain permission under section 3(1)(ac) of the Law. This update aligns the guidance with current practice following a review conducted last year.