The prime minister has hailed an agreement by the UK’s Overseas Territories and Crown dependencies to sign up to a tax evasion clampdown. David Cameron said it was a “very positive step forward” ahead of the G8 meeting, which starts on Monday. But sources from the Crown Dependencies told the BBC a proposed register of […]

On the 10th April the Commission advised that it noted that the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2013 have resulted in an inaccurate cross-reference in regulation 5(1)(d) of the regulations being amended.  In regulation 5(1)(d) the reference to regulation 3(1)(c) should now be to regulation 3(2)(a).   […]

On the 10th April the Commission advised that it noted that the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2013 have resulted in an inaccurate cross-reference in regulation 5(1)(d) of the regulations being amended.  In regulation 5(1)(d) the reference to regulation 3(1)(c) should now be to regulation 3(2)(a).   […]

The Policy Council has signed the following amendment regulations, which came into force 28 March 2013: 1. The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2013 2. The Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 (Amendment of Schedules 1 and 2) Regulations, 2013 3. The Criminal Justice (Proceeds of […]

 Gavin St Pier, Minister of the Treasury and Resources Department, signed the agreement on behalf of the Government of Guernsey during a meeting in London with Moftah Jassim Al Moftah, Director of Public Revenues and Taxes Department at Ministry of Economy and Finance who signed on behalf of the State of Qatar, reports Guernsey Finance. […]

On 24 May 2010 the Guernsey Financial Services Commission (“the Commission”) decided: to impose financial penalties of £14,000 each on Mr Y and Mr du Feu and £7,000 on Mr X (“the Directors”) under section 11D of The Financial Services Commission Law; an to make this public statement under section 11C of the Financial Services […]

Prior to 27 February 2013, consent from the Guernsey Financial Services Commission pursuant to the Control of Borrowing (Bailiwick of Guernsey) Ordinance, 1959, as amended (more commonly referred to as COBO) was required for certain transactions where money was borrowed in the Bailiwick of Guernsey and for certain capital raising transactions. COBO created additional and […]

The Foreign Account Tax Compliance Act (FATCA) regulations were introduced under the HIRE Act (Helping Individuals Return to Employment). FATCA was passed in the U.S. in 2010 and following a degree of industry consultation the proposed regulations were released in early 2012 with an invitation for feedback. The final regulations are expected in late 2012 […]