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.
The four Channel Islands Chambers of Commerce have met for the first time, in what Julian Winser, president of the Guernsey Chamber of Commerce, said was expected to become a regular event.
Assets of the worlds largest 1,000 banks grew by 6.4% in 2010/2011 to a record $101.6 trn, with China posting the greatest growth, a new report by TheCityUK reveals.
Having established business links with China, India, Russia and the Gulf, Jersey will shortly be exploring opportunities to promote its interests in Latin America, the Channel Islands Treasury & Resources minister, Philip Ozouf, revealed yesterday.
In a speech earlier today, senator Philip Bailhache said despite there being widespread recognition that Jersey is a transparent jurisdiction, political prejudices die hard and it is convenient for politicians to point the finger at jurisdictions such as Jersey.
Jerseys plans to make it possible to transfer the UK pensions of non-Jersey residents to the island have been placed on hold, pending discussions with HM Revenue & Customs.
Allied Irish Bank continues to scale down, with plans to close its Isle of Man and Jersey-based operations by the end of 2013.
Deutsche Bank International has promoted Jonathan Peake to head of operational risk management for private wealth management of its Channel Islands and Cayman Islands operations.
Jersey Finance has given its technical director, Heather Bestwick, the additional title and duties of deputy chief executive, a new role at the organisation.
UK proposals to force banks to ring-fence their high-street banking operations from their investment banking arms in order to protect them from possible future banking crises have sparked concerns in the offshore banking industry, over the possible changes that these plans could force on the offshore subsidiaries and branches of British banks.
Jersey has signed a double tax agreement with Hong Kong, as part of what officials there said is the islands continuing effort to develop business ties with the Far East.
Channel Islands-based compliance and regulatory financial services support provider Active Group has announced two senior appointments at its Jersey office.
