Guernsey's key industry 'stable' in a turbulent world

Friday, 5 June 2026 11:05

By Euan Mahy

The regulator says finance in Guernsey continues to attract funds, investment and insurance business.

Finance is key to wealth creation in Guernsey, but the world in which it operates has become increasingly unstable.

Despite this, the GFSC says in its newly-published annual report that Guernsey continues to attract business in the form of funds, investment and insurance.

Digital is a growth area, particularly as AI becomes mainstream and the ambition is for Guernsey to become 'a trusted, agile and forward thinking jurisdiction for digital innovation.'

The GFSC says the technology presents both opportunities and threats, including the effective regulation of digital finance initiatives like blockchain.

Last year the regulator engaged extensively with the industry through its Digital Finance Initiative.

It received 550 applications for licences and 220 came via its new portal.

In terms of regulation, the GFSC was criticised by MoneyVal for taking too long on some investigations.

GFSC director general William Mason says at the turn of the year, 16 were underway, and defended the time taken to reach a decision:

"We take on wealthy principals who can afford to contest cases almost endlessly, majoring on highly questionable and frequently refuted human rights challenges."

In 2025, the GFSC raised more than £18.8M through fees from the finance firms it regulates, an increase of more than £1M on 2025.