Deeply confusing and contradictory messages are coming out of the Channel Islands.
Guernsey has submitted its evidence to the Treasury Select Committee hearing on Offshore Financial Centres and says Guernsey is
* An effective regulatory regime that meets or exceeds international standards on financial regulation, anti-money laundering and controlling the financing of terrorism;* International co-operation on regulation […]
The Telegraph has reported that:
A row has broken out between the Channel Islands and the European Union over a decision to leave the tax havens off a ‘white list’ of countries deemed to have satisfactory controls against money-laundering.
Jersey, Guernsey and the Isle of Man have been placed by the EU on an ‘intermediate’ list of […]
I note that whilst I was away there was some comment on the UK’s overseas tax haven territories not making it to the EU’s ‘white list’ of locations with equivalent money laundering standards to the UK despite places like Russia doing so.
I am not at all surprised. Places like Argentina, Australia, Brazil, Canada, Hong Kong, […]
Guernsey has elected a new States (parliament). I was asked by a number of people to comment before the elections on the issues that I thought would face that body when it assembled, but rather than comment before the election and so face accusation of interfering I do so now when votes have been cast […]
Accountancy Age has reported that:
Less than a quarter of accountants polled in a survey say they would chose to relocate to the Channel Islands, an indication that the benefits the tax havens offer do not hold sufficient allure for accountants today.
Well, let’s list the harm such a choice could cause:
1) You increase world poverty;
2) You […]
It was good to celebrate my 50th birthday this morning reading an excellent article in the Guardian with the above title. As the sub-title said:
Jersey’s status as a tax haven has made it one of the richest places on Earth. But there is a widening gulf between the millionaires of the financial sector and locals […]
The BBC has reported that:
Carlyle Capital Corporation (CCC), a unit of the private equity firm Carlyle Group, has said it will not be able to meet lenders’ demands for money. The US mortgage-backed bond fund will collapse if, as expected, its lenders seize its remaining assets. CCC’s problems are the latest sign of the credit […]
Tax-news.com has reported:
Jersey has been recommended as one of the top three global financial centres by leading advisers and wealth managers in research conducted by Citywealth, it was announced on Tuesday.
Featured alongside the Cayman Islands and Guernsey, Jersey has been identified in the top echelon in Citywealth’s annual ‘Leaders List 2008′ research.
The research involved numerous […]
There was an article on Mondaq.com a few days ago entitled Guernsey - A World Class International Finance Centre. You have to take this seriously: Mondaq describes itself as:
one of the most comprehensive electronic resources of professionals’ knowledge and expertise. We provide legal, regulatory and financial commentary and information supplied directly by hundreds of the […]
I was amused to read a story in the Guernsey Press and Star which had the headline:
GUERNSEY’S independence is seriously under threat from the EU and more has to be done to safeguard it.
According to the report the above was:
the overwhelming verdict from politicians gathered at La Trelade Hotel yesterday discussing the surrender of sovereignty […]
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