Lending, Credit & Finance Consultation Paper

Closed 15 Sep 2017

Opened 18 Jul 2017


Bailiwick residents are not immune from an over reliance on credit following the prolonged low interest rate environment or unaffected by unscrupulous lending.  The Bailiwick shares potential lending hot spots, which have been publicised in the UK; for example a lack of understanding of the terms of a Personal Contract Plan (“PCP”) for a new car, or unaffordable loans.  The Commission in conjunction with the States of Guernsey wants to ensure that for the first time Bailiwick residents are awarded regulatory consumer protection.

Financial services businesses in the Bailiwick have an opportunity to innovate, evolve and grow through the regulatory framework proposed in this paper.  We have included some enterprising innovative alternative finance opportunities, such as the regulation of Customer Due Diligence (“CDD”) Platforms, which merit consideration.  The Commission has sought to create a principles based regulatory environment which could act as a stimulus for both the innovative business of today and potential finance business of the future; ultimately we want to see good finance business flourish.

I hope that whatever your background (and we are all ultimately consumers), you will consider feeding into this consultation process.  All comments, in writing, via Citizen Space, or even simply over a coffee with us, will be valued.

Gillian Browning

Director, Fiduciary Supervision Policy & Innovations Division

Guernsey Financial Services Commission


The proposals for the Lending, Credit & Finance project have been developed with assistance from focus groups that included representatives from industry, associations, consumer bodies and the States of Guernsey.  We are grateful for all the contributions, support and input provided.



What Happens Next

Thank you for completing the Consultation Paper's questions.

Your views and comments are important and will contribute to the development of the Lending, Credit and Finance Law.



  • Consumer
  • Financial Advisor
  • Financial Services Business
  • FinTech
  • Lending, Credit & Finance Business
  • Prescribed Business
  • Lenders