The Guernsey Financial Services Commission has published a consultation paper proposing amendments to the Financial Crime Returns Rules to make the filing of periodic returns mandatory for accountants, lawyers and estate agents classified as prescribed businesses. The proposed changes would remove a disparity with other sectors where periodic financial crime filings are already mandatory. They follow amendments to Schedule 5 of the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999, made after a consultation by the States of Guernsey’s Policy and Resources Committee, which enabled the Commission to introduce rules requiring prescribed businesses to submit periodic returns. Responses are due by close of business on 17 March 2025, with the consultation paper and associated draft legislation available via the Commission’s Consultation Hub.

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