The GFSC industry update. Pictured left to right are Richard Walker, Nik van Leuven, Dr Andrew Sloan, Angela Knight and Peter Hardwood. (Picture by Steve Sarre, 1190296)

A NEW methodology to assess the impact of proposed regulatory measures is to be trialled by the Guernsey Financial Services Commission.

GFSC director general Nik van Leuven revealed in his speech at the commission’s industry seminar last week that it was currently working on how the initiative will work and it would soon be consulting the industry on it, ahead of the trialling.

He said that while the GFSC had always consulted, the process had often been erratic in terms of gathering responses which were on time and of quality.

‘Another feature of our consultations has been a tendency to engender negative, or at least unhelpful, responses. Many of these have been unreasoned, by which I mean unsupported by evidence – facts and figures. Fewer respondents have been supportive.’

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