PRISM (Probability Risk and Impact System) is the Guernsey Financial Services Commission’s framework for the supervision of regulated businesses. PRISM focuses resources on an impact basis. Those businesses assessed as having the highest impact on the financial stability on the Bailiwick are therefore subject to greater engagement, including more regular and/or bespoke on-site visits.
Redwood has the experience to provide assistance to businesses prior to a visit by the regulator, including mock on-sites to assist businesses in understanding what they should expect. The “visits” performed by Redwood will include, if required, the opening and closing meetings, requests for information and interviews on areas of likely regulatory interest. Redwood can also assist with pre-visit submissions and regulatory outcomes following the visit, including remediation plans and the collation of post-visit materials.