The Guernsey Financial Services Commission (FSC) has launched a consultation on proposals for an increase in fees paid by regulated entities.

The commission has proposed an overall increase in fees of 3.9 per cent for 2026, in line with inflation.

Its internal financial modelling has indicated that the commission would be capable of sustaining operations in 2026 with fee increases benchmarked to inflation.

The proposed fee increase is therefore matched to the rate of inflation in Guernsey, as at 30 June 2025.

The Guernsey FSC said this will ensure that it has sufficient resources to meet its statutory objectives, including having the staff to supervise regulated entities, meeting international standards, and continuing to invest in new technologies.

Other proposals set out in the consultation included the rebasing of private investment fund fees, aiming to strengthen Guernsey’s position in the investment sector.

It also proposed an adjustment to banded fiduciary licence fees, the introduction of banded fees for prescribed businesses, and new fees for certain requests that require the commission’s approval, such as a change of designated administrator for a collective investment scheme and a transfer of business between investment or fiduciary licences.

The commission is also consulting on a reduction in fees for virtual asset service provider applications, as part of its initiative for Guernsey to embrace digital assets.

Commenting on the consultation, Guernsey FSC chair, John Aspden, said: “The commission continues to seek to deliver good regulation in a proportionate manner and, in doing so, ensure that Guernsey remains an attractive jurisdiction in which to do business.

“Our proposed fees would keep the Bailiwick competitive with our peer jurisdictions. Embedded with our forecast assumptions for 2026 is the continuing use of a significant portion of our current reserves to fund critical technology developments which helps to keep our 2026 fee increases moderate.”

The consultation period will close on 8 October 2025.

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