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Guernsey FSC Introduces Online Filing Of PQs

by Jason Gorringe, Lowtax.net, London
22 January, 2015

Persons involved in companies licensed by the Guernsey Financial Services Commission (FSC) may now submit their Personal Questionnaires (PQs) online.

PQs are submitted along with an application for a financial services licence. They must be completed by every director, controller, partner, manager, senior officer, significant shareholder, shareholder controller, indirect controller, general representative, and beneficial owner of a regulated entity. The PQ should be completed with details of the individual's background, experience, qualifications, and other involvements to enable the FSC to determine that they are fit and proper for their role.

The online filing of PQs will replace paper filing from April 17, 2015. Details already held by the Commission can be updated through the same portal. Previously such changes had to be notified by filing a Personal Declaration form, which is now obsolete.

Tim Loveridge, the Commission's Chief Transformation Officer, said: "This is the first of several significant steps that the Commission is taking to improve the range of electronic services it offers to licensees with the aim of making things more efficient and easy to use."

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