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# GFSC proposes 4.3% fee increase in line with Bailiwick inflation
- URL: https://www.thequarry.media/gfsc-proposes-4-3-fee-increase-in-line-with-bailiwick-inflation/
- Published: 2026-09-09T09:51:00.000Z
- Updated: 2026-09-09T15:51:20.000Z
- Author: The Quarry
- Tags: News

- GFSC proposes 4.3% overall fee increase from 1 January 2027, in line with Bailiwick inflation
- Insurance sector to receive one-off 17% rebate on annual fees following significant 2026 enforcement penalty
- Amendments proposed to Lending, Credit and Finance Law fees to improve clarity for custodians
- Consultation runs until 6 October 2026, with responses accepted via Engagement Hub or email
- Proposed fees align with Finance Sector Strategy 2035 and support Digital Finance Initiative and Innovation Sandbox

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The Guernsey Financial Services Commission has launched a consultation on proposed fees and administrative penalties to apply from 1 January 2027, with an overall fee increase of 4.3 per cent in line with Bailiwick inflation.

The consultation period, which opened on 3 September 2026, will run until 6 October 2026\. The proposed fees are intended to ensure the Commission can continue to deliver effective, high-quality regulation across the financial services sector.

Key measures outlined in the consultation paper include a one-off 17 per cent rebate on annual fees for the insurance sector, taking into account Section 39(8) of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020\. The rebate follows a significant enforcement penalty received by the Commission in 2026.

Under the Enforcement Powers Law, sums received from penalties imposed on persons licensed under a particular supervisory law must be taken into account when determining the fees payable under that law. The Commission had previously signalled it would offer this one-off reduction in insurance sector fees for 2027.

The consultation also proposes amendments to certain fees under the Lending, Credit and Finance Law to improve clarity for custodians. These changes aim to clarify the fee treatment of certain virtual asset activities.

The Commission has confirmed that any future amendments to fees associated with stablecoin licences will be consulted on separately as its policy work in this area develops.

The Commission's financial planning continues to reflect the need to invest in the people, technology and specialist skills required to supervise an increasingly multi-faceted financial services sector. The proposed fees also align with the objectives of the Finance Sector Strategy 2035 by helping ensure the Commission has the capacity, expertise and technology needed to fulfil the recommendations for which it is primarily responsible.

This includes continuing work on the Digital Finance Initiative and the Innovation Sandbox, both key components of the Bailiwick's evolving regulatory framework.

Speaking about the proposals, the Commission's Chairman, John Aspden, said: "The Commission seeks to deliver effective regulation and to ensure that the Bailiwick remains an attractive jurisdiction in which to do business. Our proposed overall increase is aligned with inflation and reflects the costs of maintaining a skilled and effective regulator."

He added: "We are also planning a one-off partial rebate of annual fees for the insurance sector and targeted amendments to support the continued development of the Bailiwick's digital finance framework."

Responses to the consultation should be submitted through the Commission's Engagement Hub or by email.

Following the consultation period, the Commission will consider the responses received and publish a feedback statement setting out the final fees to apply from 1 January 2027.

## Q&A

**Q: When will the proposed fees take effect?**  
A: The proposed fees and administrative penalties are scheduled to take effect from 1 January 2027, subject to the outcome of the consultation process.

**Q: Why is the insurance sector receiving a fee rebate?**  
A: The 17% rebate follows a significant enforcement penalty received by the Commission in 2026\. Under the Enforcement Powers Law, sums received from penalties imposed on persons licensed under a particular supervisory law must be taken into account when determining fees payable under that law.

**Q: How can stakeholders respond to the consultation?**  
A: Responses should be submitted through the Commission's Engagement Hub or by email to \[email protected\] before the consultation period ends on 6 October 2026.