Only in Jersey

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I couldn't help but notice a recent but in the Jersey Evening Post - which I read for too often for my own good.

They'd noticed a report that a Russian company called Rusal was thinking of registering in Jersey before quoting on the London Stock exchange.

They seem not to have noticed that this 'new' company is actually Roman Abromovich's old concern, but they did at least note it was a major world player in aluminium. despite which they noted it has been called a 'highly secretive operation'. So secretive that it looks like the JEP has failed to note that it is quoted already on the Jersey stock exchange according to reports I have read.

As the JEP noted:

'elaborate corporate entity changes and complex trading schemes conceal the final destination of Rusal's trade'.

They also note:

'aluminium trading schemes also use Monaco and Liechtenstein as pseudo destinations as well as Panama, the BVI and other tax havens'.

As the JEP then says:

'It makes perfect sense therefore for this kind of company to choose to register in Jersey, with its expertise in Special Purpose Vehicles and the like. Could this be a lucrative new market for the Island's finance industry?'

Only in Jersey could they ask such a question.