GAT Newsletter April 2020

GAT Industry News

Welcome to your newsletter


News


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Notice to GAT Members: COVID-19 Coronavirus

GAT is working hard to bring Members all relevant updates as they are publicised.  This includes notices from the States of Guernsey and Public Health, GIBA, the Revenue Service and any other information which it is felt members should be made aware of.  Please ensure you are on the mailing list to receive these updates.

You can sign up here - Mailing list signup

As the situation regarding the coronavirus has developed, Public Health Services has produced some General Guidance documents. These are being updated as the advice changes so please keep checking the following website to ensure you are up to date with the latest developments - SOG Covid-19 Guidance


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The Commission have asked GAT to circulate the proposed changes to the Financial Crime Return and guidance. 

Read in full here

Please send any comments on the additional questions to info@guernseytrustees.org by 11 May 2020 so we can collate and forward them.


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GAT Member's Luncheon

Currently our luncheon events are suspended.  Please ensure that you are signed up to our mailing list to receive any further event updates from us.

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Retail price indices - March 2020

The Guernsey Quarterly Inflation Bulletin is published on www.gov.gg/rpi. It contains the retail price indices (RPI and RPIX) as at the end of March 2020 as usual, with some additional commentary on the impacts of the ongoing coronavirus situation.

Read more
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GIBA News Roundup

GAT are proud members of GIBA, representing the financial services industry in Guernsey.  GIBA News and media statements are posted here.

24th April 2020 – GIBA Statement on Proposed Covid 19 States Loan  Click here to download

Don't forget to follow GIBA on LinkedIn


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Summary minutes

Please find below a link to the summary minutes for March's meeting of GIBA Council.

View Meeting Minutes


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Events Calendar

Remember to check our Events Calendar for Industry presentations and other events that may be of interest.

Forthcoming Events


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STEP Lecture Series

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The popular STEP Guernsey Lecture Series is back!  We will be delivering a programme of virtual events over the coming months.

STEP Guernsey are grateful to Lecture Series sponsor Ogier, for supporting another year of our popular lunchtime lectures.



Catchup available

Last week saw STEP Guernsey's first virtual lecture where we welcomed Yann Mrazek of M/HQ (DIFC) to discuss UAE Foundations live on Zoom.
 
If you missed the lecture and want to catch up you can find it here -  http://www.stepguernsey.org/lectures/onlinelectures2020/

Next Lecture

Thursday 7th May 2020 at 12pm via Zoom

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The second of our virtual events will be held via Zoom and industry professionals are encouraged to register in order to participate in the webinar.

We are delighted to welcome back Ben Rhodes and Jamie Toynton of Grant Thornton.

Presentation Summary

In January 2020, the States of Guernsey approved changes to Guernsey’s insolvency law, which are anticipated to come in to force shortly. The changes are wide-ranging and include: a requirement for liquidators of insolvent companies to be independent; greater consultation with creditors of insolvent companies; obligations for liquidators and administrators to report misconduct; and, greater powers for liquidators and administrators to obtain information.

Ben and his colleague Jamie Toynton, both directors of the Grant Thornton Channel Islands Recovery & Reorganisation team, will be discussing the impact of the insolvency law reform and how it will affect you.

Book now
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STEP Guernsey Branch Conference update

The well-being and safety of the local community has always been, and always will be, the highest priority for the STEP Guernsey branch. During this unprecedented time, STEP Guernsey is proactively monitoring the status of the COVID-19 (Coronavirus) outbreak, and relying on facts presented by the Guernsey Public Health Authority and the World Health Organization.

STEP Guernsey regretfully wish to announce that we are postponing our annual conference which was scheduled to take place this summer on 25th June.  

Our flagship event has now been rescheduled and the new date for your diaries is 25th November 2020.  

As the situation is continually developing it has been decided not to release registrations or take any payments at this time. However, in order to be able to either proceed at short notice or reschedule to a later date, we are asking delegates to register their interest in attending. Those who have registered their interest will receive any further information as soon as it is decided.   

Read more and Register
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GTA Courses & Events

Members may be interested in the following courses and events taking place in May, all of which will be delivered online in a virtual classroom:

(1) Understanding FRR for Trust Providers

This course will provide participants with a brief overview of The Financial Resources Requirements Rules, 2018 in reference to fiduciary companies.

Cost: £60

Date: 6 May 2020

Times: 09.30-10:30

Further details and registration here.

(2) FATCA & CRS – A Practical Workshop

This course aims to provide practical assistance in understanding entity classifications and reporting obligations for both FATCA and CRS. This course will use real life structures in a workshop format to deepen delegates understanding of FATCA and CRS entity classifications and reporting obligations.

Cost: £195

Date: 13 May 2020

Times: 09:00-12:30

Further details and registration here.

(3) Introduction to Company Law and Administration

The course covers the duties involved in being a company administrator, an overview of company accounts and an overview of The Companies (Guernsey) Law (2008).

Cost: £295

Date: 19 May 2020

Times: 09.30-16:00

Further details and registration here.

(4) Digital Leadership Livestream Event – Why you should be looking at deep learning and AI to enhance your business

Data is now a critical element to the success or failure of any business. This session covers the evolution of AI and deep learning, and recognises how using your data with the most recent evolutions in this field is essential to driving business sustainability and growth.

Cost: FREE

Date: 21 May 2020

Times: 12:30-13:15

Further details and registration here.


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Events Update

The following event updates have been provided by Guernsey Finance:-

BIBA 2020 was scheduled to take place Wednesday 13 May - Thursday 14 May - in Manchester.  It has been cancelled by the organisers due to the Coronavirus pandemic. It will not be rescheduled this year.

For more information visit https://biba2020.co.uk/news/biba2020-cancelled/

Due to the ongoing concerns around the Coronavirus pandemic, Airmic have taken the decision to stop the planning for their June annual conference. The Airmic Annual Conference was scheduled to take place Monday 08 June - Wednesday 10 June at the EICC, Edinburgh.

For more information on this, please visit the conference website here.

Thank you for your interest in the We Are Guernsey Family Office Briefing on 30 June in London.  We regret that, in light of the ongoing developments with COVID-19, we have taken the decision, in consultation with our industry partners, to cancel the event at this time. The health and wellbeing of our guests and our staff has to be our overriding priority.

We are planning on still running our Guernsey Private Wealth Forum in London on 14 October, but will continue to monitor the situation in consultation with industry.

Should you require further information or have any queries, please contact Emily Wild.


Sponsor News



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We would like to give  thanks to our Sponsors for their support.

  • Alternative Solutions Limited
  • Carey Olsen
  • KPMG
  • Walkers (Guernsey) LLP
  • Raw Capital Partners
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Walkers contributes six chapters to Chambers FinTech Practice Guide 2020

Walkers has provided six chapters to Chambers and Partners FinTech Practice Guide 2020.

The guides provide expert legal commentary on key issues and covers the important developments in the most significant jurisdictions. Each chapter provides information about market sectors, regulatory regimes, fund administrators, blockchain technology and key factors influencing FinTech activity in each of our six juridsctions.

For more information on each chapter, see below:


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Disciplinaries, PIPs and Grievances During Lockdown: to Progress or Postpone?  

Over recent weeks, all businesses across the Channel Islands have had to adjust to lockdown. For many non-essential businesses, this has meant setting up systems to allow employees to work from home. Understandably, a huge amount of effort has gone into sending out the ‘Business As Usual’ message to local, national and international clients, but to what extent can – and should – employers aim for BAU in disciplinary, performance or grievance issues affecting staff? The law imposes a number of duties on employers which impact this question.

View article
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What Does the New Reality of Work Look Like?

It’s not “business as usual” but it is pretty close with a range of products and services from Alternative Solutions. What is becoming very clear is that we are adapting to our new working circumstances and for most, our work environment will change forever. In this article we look at one aspect of the new way of working, that of providing all users with proper access to information whether in the office or working remotely.

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Estate planning demands during the global coronavirus pandemic

The global coronavirus pandemic has, in less than four months, swept the globe, brought economies to a sudden and grinding halt, put an unimaginable strain on even the best prepared health systems and led to changes in everyone’s working and personal lives as jurisdiction after jurisdiction imposes lockdown measures.

View article
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Electronic verification for Guernsey firms in the face of isolation

In the last few weeks, we have received a number of urgent instructions as a result of the unprecedented impact of the coronavirus (COVID-19) situation.

View article

Did you know GAT has a Linkedin page? Follow us to ensure you keep up to date with news and events.

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