2024 Fee Consultation

Overview

Updated 23 November 2023

On 26 July 2023, the Commission issued a consultation paper on the fee rates and administrative penalties to apply from 1 January 2024, which contained the following proposals:

• an overall proposed increase in fees of 7.3%, with the exception of fees introduced in 2023;
• a rebalancing of fees within the insurance sector on request of the industry body with an aim to provide greater comparability with other jurisdictions;
• an increase in the regulatory fee for operating an investment exchange within the Bailiwick of Guernsey; and
• an update to the fees for VASPs within an Actively Managed Certificate (‘AMC’) structure. 

The consultation period ran for eight weeks, until 20 September 2023. The Commission published the fees consultation feedback paper on 22 November 2023 outlining its plans to increase licence fees paid by firms from 1 January 2024 by 6.3% and proceed with the proposals outlined above.