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Guernsey Regulator Announces Modest 2016 Fee Hike

by Jason Gorringe, Lowtax.net, London
05 August, 2015

The Guernsey Financial Services Commission has published a consultation paper on proposals to increase license fees by 1.6 percent in 2016.

The consultation also includes proposals to fix "anomalies" in the fees on the fiduciary and insurance sectors. These fees, in some cases, will be changed over a two-year period.

Commission Chairman, Cees Schrauwers, said: "The Commission's previous commitment to increase fees by no more than two percent per annum over a three-year period has been delivered. Now we are at the end of that period these proposals show that the Commission has no intention of losing its focus on strong cost control. It is our intention that future fee increases should be modest as the proposals set out in the fee consultation for 2016 demonstrate."

The consultation will close on the September 17, 2015.

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