Six directorships registration proposals

Please contact the Commission by Friday 16 December to attend this meeting.  Please send reservation requests by email. 

Following the States of Guernsey’s Policy & Resources Committee’s recent publication of its Consultation Paper on proposed revisions to the supervisory framework surrounding the six directorship exemption, the Commission will be hosting two meetings for interested persons at its offices on Glategny Esplanade.

At the start of each meeting, we will give a presentation on the proposals followed by discussion and questions over a coffee. These meetings will also be an opportunity for attendees to ask us for clarification on any aspect of the proposals. We will also cover the Commission’s parallel consultation on Exemption of Directorships connected to Authorised and Registered Collective Investment Schemes issued today.

The Policy & Resources Committee’s proposals impact those individual Bailiwick residents who use an exemption in the Fiduciaries Law which allows them to hold directorships of six or fewer companies without having to hold a fiduciary licence. These proposals do not affect other exemptions from licensing in that law such as directorships of local trading companies based in Guernsey, or of a company quoted on a recognised stock exchange; or when the company is supervised by the Commission; or when an individual holds directorships in the course of their duties as an employee of a licensed trust and corporate services provider.

We would encourage anyone who is unsure whether their directorship falls under the six directorships exemption and therefore the proposed registration regime, to attend.

The consultation on the proposed revisions to the supervisory framework surrounding the six directorship exemption closes on 16 January 2023 and the consultation on the Exemption of Directorships connected to Authorised and Registered Collective Investment Schemes close on 23 January 2023.