Jersey is to hold a conference aimed at assisting developing and less advanced jurisdictions to make progress in meeting the G20 objectives on tackling fiscal crimes.
The island’s Chief Minister, Terry Le Sueur, wrote to the British Prime Minister Gordon Brown in April following the G20 summit in London, supporting the summit outcome. In his letter, Le Sueur stated that, as a financial center internationally recognized by the International Monetary Fund (IMF) for its commitment to compliance with the highest international standards, Jersey wished to play a part in assisting the developing world with these objectives.
Le Sueur said: “Jersey, with its wealth of experience and record of compliance with the highest international standards, recently confirmed by the IMF, is very well placed to assist developing countries with the action that they accept needs to be taken to meet those standards. Jersey has also shown in the recovery and repatriation of expropriated funds its determination to assist in the pursuit of those engaged in financial crime, including fiscal crime.”
“We are determined to play our full part in these matters. We believe an important first step will be to bring together representatives from the developing countries and relevant international organizations to discuss the issues involved and consider the best way forward.”
To this end the Jersey government has announced that it will hold a conference on February 10-11, 2010, which will aim to provide developing countries with information on, and obtaining cooperation for the recovery of the proceeds of, financial crime, including fiscal crime.
The idea of such a conference has been warmly received by those approached, which includes bodies representing the countries of East, South and West Africa.
The UK Treasury Minister, Stephen Timms, said: “I very much welcome Jersey’s initiative and look forward to participating. The conference can make a valuable contribution to the interests of developing countries, and to achievement of the G20’s objectives.”
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