GFSC chairman wants cap on fee increases for three years

CAPPED fee increases for regulated finance businesses over the next three years are being proposed by the chairman of the Guernsey Financial Services Commission.

Cees Schrauwers

CAPPED fee increases for regulated finance businesses over the next three years are being proposed by the chairman of the Guernsey Financial Services Commission.

In a wide-ranging in-depth interview with the Guernsey Press, Cees Schrauwers also committed to developing a more-approachable GFSC and to improving corporate governance at the commission.

Mr Schrauwers, pictured, marks a year in post at the GFSC at the beginning of February. In those 12 months he has been keen to meet industry players personally on his visits to the island and to find out how his organisation is really viewed.

He admitted, as he had done at the commission’s annual industry presentation in November, that he was a little surprised at the negative industry reaction to a 2% hike in fees proposed last October, which, following a consultation process, the commission confirmed at the end of 2012.

It did, however, knock back proposals for a significant percentage rise in fees for insurance cells following an outcry from the sector.

Mr Schrauwers said the commissioners had now agreed that they would not be seeking a fee increase of more than 2% each year over the next three years.

  • Read the full interview with Mr Schrauwers in the business section of today's Guernsey Press

Comments for: "GFSC chairman wants cap on fee increases for three years"

PB FALLA

This body is one of the biggest jokes in guernsey

The sooner we get rid of finance and burdens like this the better

BRING BACK THE GOOD OLD DAYS

Louise

What part of the 'good old days' do you want to bring back to Guernsey? I'm not saying I disagree, but it is a wide statement which needs to be quantified - how would you suggest this is carried out with some degree of success given where we are now?

John

@ PB Falla

I do not know if PB Falla makes these idiotic comments just to be controversial but if not he really has no clue how the Guernsey economy works or how beneficial to Guernsey the GFSC is.

Thanks to the GFSC the island is respected and recognised as a well regulated jurisdiction throughout the world.

Thanks to the well regulated environment in Guernsey numerous quality clients want to do business in the island.

i travel on business all over the world and without exception Guernsey is seen as a well regulated jurisdiction. Guernsey should be proud of the finance industry and the GFSC not always trying to run it down and be critical.

PB Falla should be ashamed and I suspect his comments arise out of ignorance and jealousy.

John Cleese always had a go at Chartered Accountants but the reason was that he failed to pass his Chartered Accountancy exams and his comments arose out of ignorance.

Ed

John

I am told that PB Falla is probably attention-seeking. They argue that I indulge in trollery, but it is he who is the true rabble-rouser. Yet I am the one that receives stick for my supposed attempt gain sympathy for my cause, whilst his comments are never panned. What makes it even more frustrating is that most of what I say is based on sound reasoning, whilst nearly all, if not all, of his marks are ill conceived and hold little true value.

I hope that he has a substantial justification for reverting to the 'old days; I hope that he can explain it now otherwise he has cemented his identity as an internet incendiary. He probably won't as he has probably gone to infest another forum with his idiocy.

PB FALLA

Whatever this geezers on i wouldnt mind a pint of it.

Firestorm

Just because someone expresses his view does not make him idiotic ignorant or jealous This kind of response could be deemed as arrogant or ignorant also I myself Have travel a lot and am certainly not proud proud of the finance industry on Guernsey as if brought up in conversation abroad I often find myself trying to defend Guernsey because of the finance industry.

Cher Eugene

The good old days before Howard Roberts and his successors wrote the rubbish under which the GFSC was created.

Firestorm

The sooner the finance leaves this island the better and if you think without finance we will never survive you are very short sighted Thats what they would like you to think so they get their own way. Of course Those who see money as God and everything as an investment will disagree. The greed on this island these days has gone beyond belief.

PB FALLA

Spot on firestorm

The truth hurts and many in the finanace hide behind reality

Whoever claims that the gfsc does a good job must be of their rocker

boocurr

PB FALLA - are you supportign Micky Flannigan in his upcoming tour of the British Isles

good work and i think you have made a smart career move.

REEEEEEEEEEEEEEEEEEEEESPECT ...aye