Guernsey's finance sector policy framework nearly ready - what is next for our main industry?
- Guernsey’s Finance Sector Policy Framework approaches completion.
- Opportunities being looked at include tokenised securities, digital finance, and defence-related financial structures
- Oliver Wyman developed the framework in collaboration with key organisations in the financial sector.
- More than 100 stakeholder meetings have informed the strategy, which enters its final phase.
- The final report is expected in Q1 2026 and will establish a framework for future growth.
- The initiative aims to position Guernsey competitively in the global finance market for the next decade.
The Guernsey Finance Sector Policy Framework is nearing completion, following analysis by Oliver Wyman and extensive engagement with financial sector specialists.
Economic Development, the Guernsey Financial Services Commission, Guernsey Finance , and the Guernsey International Business Association jointly commissioned Oliver Wyman in September to develop a comprehensive policy framework aimed at supporting the future competitiveness and growth of Guernsey's finance industry.
The review encompasses all established financial services sectors, including funds, insurance, banking, pensions, and fiduciary services, as well as newly emerging areas in sustainable finance.
It also considers forward-looking opportunities, such as tokenised securities, digital finance, defence-related financial structures, and infrastructure investment, while analysing potential new geographic markets for expansion.
What types of opportunities being explored?
Tokenised securities are traditional financial instruments—such as shares, bonds, or fund units—that are issued or recorded using blockchain or distributed ledger technology (DLT). Instead of relying solely on paper registers or centralised databases, ownership and transfer are represented by digital “tokens”. Tokenisation can improve settlement speed, transparency, and accessibility, while still operating within established legal and regulatory frameworks. In jurisdictions like Guernsey, tokenised securities are typically structured to ensure they have the same legal rights and investor protections as conventional securities.
Digital finance is a broad term covering the use of technology to deliver, manage, and innovate financial services. This includes digital assets, fintech platforms, automated compliance (RegTech), digital payments, and the use of data analytics and artificial intelligence in financial decision-making. For international finance centres, digital finance is less about replacing traditional finance and more about enhancing efficiency, reducing friction, and supporting new products while maintaining strong governance and oversight.
Defence-related financial structures refer to investment, fund, insurance, or financing arrangements that support defence, security, and resilience-related activities. These may include financing for defence supply chains, cybersecurity, space and satellite infrastructure, or national and allied security capabilities. Such structures are typically subject to enhanced regulatory scrutiny, sanctions compliance, and ethical considerations, reflecting the sensitive nature of the underlying activities and the importance of alignment with international law and policy objectives.
Deputy Andrew Niles, Finance Sector Lead for the Committee for Economic Development, said:
that this collaborative effort to take a clear, evidence-based look at Guernsey’s financial services sector marks an important moment for the island.
“The work underway not only helps clarify Guernsey’s position in a rapidly evolving global market, but also ensures we have the regulatory strength, talent and innovation needed to thrive. This strategy will introduce fresh ideas and create the conditions for our private sector to realise its ambitions, supporting sustainable growth for the decade ahead and beyond.”
William Mason, Director General of the GFSC, said: “We are collectively working with Oliver Wyman to help discern which development opportunities for the Bailiwick are likely to be both plausible and economically rewarding.”
Barnaby Molloy, Chief Executive of Guernsey Finance, said: “We welcome the clarity and direction this framework brings for Guernsey’s finance sector.
"It gives the industry, government and our wider community a shared focus and strengthens the collaborative approach that has long underpinned the island’s success.
"The Oliver Wyman work has been delivered in line with planned milestones and offers important insight into where Guernsey can build on its established strengths and capitalise on emerging opportunities.”
Jo Peacegood, Chair of the Guernsey International Business Association (GIBA), said: “Guernsey’s finance industry is a vital economic engine for the island. Its contribution extends beyond the sector itself, supporting jobs across professional services, technology, hospitality, and many other areas of our economy.
“A well researched and respected report on how we protect, innovate and grow this industry is therefore an important economic enabler.
"The framework being developed will help ensure Guernsey can strengthen its competitiveness, seize new opportunities and support the island’s future prosperity.”
Over the past three months, more than 100 stakeholder meetings have been conducted with industry experts across various financial services sectors. Oliver Wyman has facilitated industry roundtables and carried out detailed market analysis to ensure the strategy’s robustness, leading to the project entering its final phase.
The report, anticipated in Q1 2026, will integrate the analysis into a policy framework that will guide the development and implementation of initiatives throughout the financial sector.
This initiative aims to set the stage for the island’s ambitions over the next decade.
Key focus areas of the strategy include:
- Assessing the evolution of global competitive dynamics and how Guernsey can ensure long-term success.
- Identifying emerging sectors and establishing a growth agenda.
- Enhancing foundational support for innovation and market development.
- Developing marketing strategies to elevate Guernsey's global profile.
- Evaluating essential enablers, such as transport links, digital connectivity, and infrastructure, that support sector growth.
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