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Foot To Visit Guernsey,
by Jason Gorringe, Tax-News.com, London
Monday, April 27, 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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