Jersey-headquartered JTC Group has acquired Merrill Lynch Wealth Management’s International Trust and Wealth Structuring (ITWS) business, which provides the administration of trust services for the firm’s international advisory clients.
Four men have been arrested on suspicion of fraud as part of the ongoing investigation into the collapsed Guernsey-based Providence Investment Fund that saw some investors lose their life savings.
Jersey-headquartered independent trust company Zedra has set up an office in Miami to target North and Latin America as part of its fast track global expansion plans.
Retail investors in Guernsey do not have the same right to redress as their Jersey counterparts, Channel Islands ombudsman Douglas Melville has confirmed.
Jersey is running a voluntary disclosure scheme giving islanders the opportunity to tell the taxman if they have made a mistake or failed to declare income without having to pay extra penalties, ahead of tougher sanctions that may be brought in next year.
The government of Jersey is to spend £900,000 ($1.1m, €1m) on another strategic review of the island’s financial services industry, to analyse the implications of Brexit and the effect of digital disruption.
The States of Jersey has named a chief officer of its financial services team, while Lombard International Assurance has created a general counsel role for its European operations. Stanhope Capital has secured a former Mexican finance minister for its board.
Jersey chief minister Ian Gorst has signed an agreement to allow the return of over £3m ($3.65m, €3.46m) of stolen assets to Kenya.
A team of UK politicians have been touring the Channel Islands and the Isle of Man as part of a fact-finding mission to establish what effect Britain’s exit from the European Union will have on the crown dependencies.
The founder and managing director of defunct Jersey-based IFA firm Lumiere Wealth, Christopher Byrne, has appeared in court for a fourth time and been granted bail.
Philip Ozouf, assistant chief minister of Jersey, has stepped down following the publication of a report highlighting a catalogue of failings in how the island’s Innovation Fund awarded more than £2m ($2.5m, €2.3m) of taxpayers’ money to start-ups.
Gibraltar has said it is “well prepared” to handle the fallout from a hard Brexit, adding it could provide “significant opportunities” for the British overseas territory, after UK prime minister Theresa May confirmed on Tuesday that the country will pull out of EU single market.
