Guernsey FSC Hosts IMF Coordinated Portfolio Investment Survey Workshop

by Jason Gorringe, Tax-News.com, London

14 January 2005

The Guernsey Financial Services Commission has played host to the latest annual IMF Coordinated Portfolio Investment Survey workshop for small economies with international financial centres (SEIFiCs).

Each year, banks, collective investment fund administrators, insurers, insurance managers and insurance intermediaries in Guernsey provide the Commission with information on the jurisdiction on the issue of holdings of equity and debt investment which is then collated by the GFSC and transmitted to the IMF.

Guernsey is one of 67 jurisdictions participating in the survey, intended to provide the fund with a greater understanding of the global financial system's investment flows and allow it to reduce the impact of any regional or global financial crisis.

"The workshop proved a great success,” noted John Joisce, Senior Economist at the IMF Statistics Department.

“Discussions centred around the role and significance of SEIFiCs in international financial markets, as well as exploring the nature of some of the more arcane features of several types of cross-border investment vehicle. For Guernsey, it is obvious that its financial services industry is a very important player on the world stage," he added.

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