Foot To Visit Guernsey

by Jason Gorringe, Tax-News.com, London

27 April 2009

The official conducting a review of financial business in the Crown Dependencies will pay a day-long visit to Guernsey this week, the government has announced.

Michael Foot, a former senior civil servant at the UK Treasury and in the UK Financial Services Authority, will meet Chief Minister Lyndon Trott, Treasury and Resources Minister Charles Parkinson, and Commerce and Employment Minister Carla McNulty Bauer, Civil Servants and key figures from the Guernsey Financial Services Commission and the financial services sector on April 29.

The UK Government announced an independent review of financial stability and transparency in the financial centres of the Crown Dependencies and Overseas Territories, in Chancellor Alastair Darling’s Pre-Budget Statement last November.

Deputy Trott welcomed the review at the time, which he described as a collaborative exercise between Guernsey and HM Treasury.

Mr Foot also carried out an independent review of the GFSC’s handling of the collapse of Landsbanki Guernsey Ltd late last year and visited the island as part of that work.

Mr Foot has just published an interim report of his review, and hopes to complete his full report by the end of the year.

He has started his series of visits to the locations forming the scope of the review – Guernsey, Jersey, Isle of Man, Bermuda, Cayman Islands, Gibraltar, Turks and Caicos Islands, British Virgin Islands and Anguilla.

Deputy Trott said: “We welcome Mr Foot’s return to Guernsey. We have been pleased to co-operate with a review which I am sure will continue to show the island in a good light.”

“Mr Foot has a demanding schedule of meetings lined up for the day which will offer him an excellent overview of the financial services sector in the island.”

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