At its meeting on 14 July the States of Guernsey approved The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022, and has subsequently published a consultation paper setting out our draft Rules, guidance and our approach for regulating the sectors covered by the new Law.  The consultation paper and the associated documents can be found at

For the vast majority of retailers, no action will be required.  For those retailers offering a single credit option through a third party, which is itself a licensed credit provider, they may be considered an “Appointed Representative” of the lender and would not need a licence.  There would however need to be a formal agreement in place between the lender and the retailer, the details of which are described in the consultation paper.  Finally, retailers offering credit in their own right, or acting as a broker by offering multiple credit options and/or advice would need to hold a licence under Part II of the Law.  

The consultation paper covers this in more detail, including a range of worked examples, and explains what, if anything, will be required of different types of retailers.  

Feedback is being sought from as wide a range and as many stakeholders as possible, and will therefore be holding a series of meetings with various sectors affected by the legislation.  A meeting will be held for local retailers on Thursday 25 August from 8.30 – 10.00am, and would welcome any relevant members of the Chamber to attend.  

The purpose of the meeting is to enable attendees to ask us for clarification on any aspect of the aforementioned papers, and to express any preliminary thoughts or views on the proposals.  It is particularly important for each retailer to identify whether, under the proposals they would be required to hold a licence and if they are at all uncertain they will have the opportunity to raise this.  Attendees should read the papers beforehand, as rather than a presentation, the meeting will take the form of a roundtable discussion on the consultation questions.  This opportunity is separate from any written formal consultation response (through the Commission’s consultation hub) which may subsequently be submitted.  

To facilitate discussion, it would be helpful if attendees could submit any specific questions or issues they would like to be covered, ahead of the meeting. 

For anyone wishing to attend the meeting on 25 August please confirm directly by 22 August, at