Welcome to our newsletter
The GAT Committee would like to take this opportunity to extend warm wishes to their Members for the Christmas period and to thank Members for their continued support and engagement during 2018. With best wishes for a happy, healthy and prosperous New Year.
Members are advised that the next GAT luncheon, taking place on Wednesday 9th January 2019 in the Conservatory at Moores Hotel, is fully booked, however we have set up a waiting list for those who wish to join. Please sign up via Eventbrite.
Members are politely requested to notify GAT if they can no longer attend, and will receive a refund up to 24 hours prior to the event.
We are delighted to welcome Rupert Morris who will cover the salient points of the AML/CFT Handbook. Our luncheon will also feature an industry update from Chairman Paul Hodgson.
Member Subscriptions 2019
Members are reminded that Membership Subscription Renewals fall due each January. The GAT Committee has decided that in 2019 there will be no increase to membership fees for either Corporate or Personal members.
- Corporate fees will remain at £250
- Personal fees will remain at £55
GAT has three key objectives; to provide a Members’ forum for mutual exchange of information concerning the Industry directly or indirectly, to promote and enhance the reputation of the Industry in Guernsey and abroad as a leading jurisdiction for the provision of fiduciary services and to represent Members and the Industry in discussion, liaison and negotiations with other Stakeholders.
The Committee believes that GAT provides excellent value for its members and is a significant organisation in Guernsey, keeping the sector in touch with government and other key players such as the GFSC, Guernsey Finance and GIBA. These communication channels provided by GAT for its members are vital to the strategic positioning and future success of the fiduciary sector locally.
Subscription renewal letters and invoices will be sent early in 2019.
If you have any queries please contacts us at firstname.lastname@example.org.
Private Client Global Elite Directory
As part of Guernsey Finance’s sponsorship of Legal Week’s Private Client Global Elite event, Guernsey Finance have 35 copies of their directory, worth £195 each, for distribution.
The supplement details the final list of just over 250 individuals who were short-listed from a combination of votes, commitment to client care, work experience and effect, international networks and professional expertise. Alongside the greatest movers and shakers in the private client field, the Elite also highlights the ‘next generation’ of lawyers in the Ones to Watch section, which aims to showcase the emerging talent in the private client world.
If you or your colleagues would like a free copy of the Elite supplement, please email Millie Jones to put one aside for you and arrange collection from the Guernsey Finance office.
Guernsey financial services policy framework offers positioning, principles and priorities
The States of Guernsey’s Committee for Economic Development and finance sector promotional agency Guernsey Finance have recently published a Policy Framework to support the growth of Guernsey’s finance sector.
The new framework to develop financial services in Guernsey will give clear positioning, principles and priorities for the island’s promotional agency, Guernsey Finance.
Dr Andy Sloan, Deputy Chief Executive, Strategy, at Guernsey Finance, led the development of the framework and its priorities in conjunction with the island’s industry, government, and the regulator, the Guernsey Financial Services Commission, over the past 12 months. It forms part of the Economic Development Strategy laid out by the Committee for Economic Development earlier this year which was approved by the States of Guernsey in June.
Guernsey courts endorsed for “big ticket” disputes
Guernsey’s courts have been praised for the ability to handle “big ticket” private wealth cases by one of London’s leading private wealth litigators.
STEP Lecture Series 2018/19
Lunchtime Lecture Number 7
11th January 2019 - 12pm
Dorey Room, St James
A quizzical approach to Liquidations
Ben Rhodes, Grant Thornton
Ben will take you through a practical case study that looks at some of the complexities and issues that need to be considered regarding a liquidation.
To inject some fun! you will be organised into teams and at the end of the presentation there will be a quiz based upon the outcomes of the case study and the winning team will win a prize!
Open to members, students and non-members. Limited places available.
For a full biography and further details please follow the booking link below.
Click on the image below to book your place. In the case that the event is fully booked STEP Guernsey will operate a waiting list.
Guernsey Finance Industry Update
“A terrific event and a real showcase for the strong financial and related professional services ecosystem in Guernsey.”
Date: Thursday 24 January
Time: 2.30 - 5.00 p.m.
Location: St James, Guernsey
For more information, please visit their website here.
Guernsey Private Wealth Forum 2019 - Save the date
Date: Thursday 14 November
Location: Banking Hall, London
For more information, please visit their website here.
International Trust and Private Client Conference Guernsey
Carey Olsen is the lead sponsor of the International Trust and Private Client Forum, Guernsey on 12th March 2019.
The one day event will bring together 25+ leading industry experts from Guernsey and Internationally to discuss the enduring role of offshore structures in times of change.
Below we have outlined a number of courses which may be of interest to our members:-
17 January 2019 – 16:00-19:00
An exclusive opportunity to listen to one of the UK’s leading economic thinkers and popular speaker, Dr Savvas Savouri, as he provides his thoughts on what the future holds for the offshore economy in light of impending Brexit. This will be followed by an interactive panel session of Guernsey Finance industry experts and rounded off with networking drinks and an opportunity to discuss this hot topic amongst your peers.
Starts 12 February 2019 – 10 one hour sessions
This series covers a range of topics that are relevant to compliance in Guernsey today. Each 60 minute session is presented by an industry expert and there will be an opportunity to ask questions.
26 February 2019 – 09:00-17:00
This course gives trust administrators and those new to client accounting a sound grasp of basic trust and company accounting.
4 April 2019 – 09:00-17:00
This course provides a general refresher regarding the preparation of trust and company accounts and also looks at the more advanced transactions, and how these should be handled.
We would like to give thanks to our Sponsors for their support.
- Asset Risk Consultants
- Alternative Solutions Limited
- Carey Olsen
- Walkers (Guernsey) LLP
KPMG: Economic Substance
On 5 November 2018, the draft Income Tax (Substance Requirements) Guernsey) (Amendment) Ordinance 2018 (“SRL”) was issued. The law addresses the commitment made by Guernsey to the EU Code of Conduct Group (Business Taxation) in relation to the lack of economic substance requirement for doing business in Guernsey. The key features of what is proposed under the SRL are highlighted in the document linked below.