aib jersey chief executive moynihan
Jersey has appointed Joe Moynihan, current chief executive of Allied Irish Bank Jersey, as its new director of financial services.
Jersey has appointed Joe Moynihan, current chief executive of Allied Irish Bank Jersey, as its new director of financial services.
Jersey Finance chief executive Geoff Cook has proposed that the banking industry put an end to so-called free banking services, as part of a seven-point plan he believes would help to “rebuild public trust in banks, while at the same time creating a sustainable banking model.
Martin De Forest-Brown has left the States of Jersey government, where he has been director of international finance for more than five years, to take up a regional directorship with the FD Centre.
Two years after Jersey took the decision to prepare legislation aimed at enabling island pension administrators to look after the transferred UK pensions of individuals who have moved to a third country, it has shelved the draft law it had been working on.
Jerseys financial regulator has made the introduction of an RDR-type regime in the jurisdiction a priority for next year, according to its 2011 annual report released yesterday.
The Jersey Financial Services Commission (JFSC) carried out a record number of new investigations into alleged rule breaches last year, according to a report in The Jersey Evening Post.
Total deposits from the Gulf countries in Jersey reached £21.2bn, accounting for 14% of total deposits in Jerseys financial sector, according to new figures to 31 March 2012 released by the Jersey Financial Services Commission.
With tax avoidance high on the media agenda, Jersey Finance CEO Geoff Cook calls for a simpler tax system which provides greater certainty for all parties.
A senior Jersey politician has said the island will not shy away from breaking with the UK if the interests of the island continue to be threatened by the actions of the UK government.
The Channel Islands are facing some significant headwinds, with the loss of tax export breaks and a clampdown on QROPS to name but two. Will Jackson explores how the jurisdictions are faring.
Jerseys funds sector grew its net asset value by a healthy 3.5% (£6.8bn) to £196.3bn during the first quarter of 2012 with a total of 1,412 funds registered, the highest figure since 2009.
As the global financial situation remains challenging, and governments around the world increasingly take action aimed at preventing tax leakage to tax havens, Jersey and Guernsey have begun talking seriously about moving towards a single financial services regulator beginning with a shared commissioner.