GAT Newsletter – November 2016

GAT News – November 2016

Forthcoming Events

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

Alternative Solutions and Financial Investigations Unit

GDPR – A first look for Guernsey Business

The General Data Protection Regulation (GDPR) is one of the next big challenges in dealing cross-border into the European Union. Again Guernsey, and other jurisdictions, will have to show their equivalence to continue doing business with the EU. Christopher Jehan is the Managing Director of Midshore Consulting Limited, a specialist financial services consultancy and training practice would like you to join him to discuss GDPR and it’s implications.

Focus areas for the seminar:
• The EU GDPR
• Guernsey’s Standpoint
• The ADPO & Registration

Date: 21st November
Time: 16:30 to 17:30
Venue: Event Space, Digital Greenhouse Guernsey
Please email: booking@midshoreconsulting.com

Islamic Finance “Town Hall”

Islamic Finance is an underdeveloped and misunderstood area of the Financial Services Industry in Guernsey. Join Midshore Consulting, Guernsey Finance, Collas Crill & the CISE as they discuss various Islamic Finance topics & opportunities for the Guernsey Market.

Focus areas for the event:
• Islamic Finance Structures & Transactions
• Private Wealth Deals
• CISE Listings
• Fund Structures
• The role of Guernsey Finance
• Islamic Finance Qualifications
• The Islamic Finance Professionals Register

Date: 24th November
Time: 16:00 to 17:30
Venue: Dorey Room, St James
Please email: booking@midshoreconsulting.com

 

Alternative Solutions and Financial Investigations Unit

Guernsey Finance Dim Sum Debrief

Guernsey Finance’s Kate Clouston has this recently returned from a promotional roadshow in the Far East.

Join Kate for a 30 minute industry de-brief on the common themes, issues and questions being raised about Guernsey, and its financial services, in these key Asian markets.

Kate will also have specifics on companies seeking Guernsey contacts and be available for a Q&A session afterwards.

For more information and to register please click here:  Dim Sum Debrief

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Step Lecture Series 2016/17

Lunchtime Lecture No.4
Date: Thursday 15th December 2016
Time: Registration at 11.45am Lecture at 12pm
Venue: The Dorey Room, St James
Guest Speaker: Matthew Guthrie, Mourant Ozannes
Title: Dealing with trust disclosure: a practical analysis of disclosure requirements and requests facing Guernsey trustees today.

Evening Lecture No.4 “PRE-CHRISTMAS EXTRAVAGANZA”
Date: Thursday 8th December 2016
Time: Registration at 5.15pm Lecture at 5.30pm
Venue: The Dorey Room, St James
Guest Speakers: Russell Clark and Mike McKean
Title: Communication Skills; “The Power of Speech”

Book your place HERE

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GTA – New and Recently Scheduled Training Courses

Having listened to feedback from local businesses, the GTA have now introduced NEW courses for you.  Some have already been scheduled and for others we are asking for you to register your interest so dates can be finalised.

Effective Team Working – 8th December – full day @ £225 per delegate
Excellence in Customer Service – TBA – full day @ £275 per delegate – register interest as awaiting confirmation of a date in January 2017
How to Provide Oversight over a Fund Valuation in accordance with GFSC Principles – TBA – half day @ £195 per delegate – register interest
EU GDPR Foundation and Practitioner – TBA – 4 days @ £2,795 per delegate – register interest

Some of their more popular courses have also been newly scheduled to run later this year or early in the New Year. These are as follows:

Introduction to Trust Law and Administration – 29th November – full day @ £225.00 per delegate
Stress Management – 29th November – full day @ £225 per delegate
Introduction to Bookkeeping – 30th November and 7th December – 2 days @ £450 per delegate
Introduction to Business Analysis – 8th December – full day @ £225 per delegate
The Compliance Officer’s Masterclass – 13th December – half day @ £195 per delegate
Accuracy and Attention to Detail – 11th January – full day @ £295 per delegate
Advanced Presentation Skills – 26th January – full day @ £395 per delegate

If you have training requirements that are not met, the GTA are always happy to source tutors to deliver new and relevant courses, please email Michelle Morley:  michelle.morley@gta.gg

Sponsor Articles

Items of relevance and interest to Members brought to you by GAT Sponsors.

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Mourant Ozannes Briefing Notes

Guernsey Royal Court sanctions trust distributions to terminate a group of eight trusts

Mourant Ozannes has recently assisted the trustees of eight Guernsey law settlements in their successful joint application for the Court’s blessing of their decisions to appoint the entire capital and income of each of the trusts to the Settlor.

Please click on the link to download the note in full:  guernsey-royal-court-sanctions-trust-distributions-to-terminate-a-group-of-eight-trusts

 

Guernsey Court of Appeal dismisses claim for £391million

On 4 October 2016, the Guernsey Court of Appeal delivered judgment on appeals from a decision of the Royal Court, the upshot of which is that a claim seeking damages of £391million has been dismissed. It is understood to be the first occasion on which the Guernsey Courts have identified the principles to be applied in strike-out applications and claims for loss of a chance, which reflect those applied by the courts of England and Wales.  Read more by downloading the note here:  guernsey-court-of-appeal-dismisses-claim-for-391million

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Carey Olsen Publications

A guide to the Children’s Property and Tuteurs (Jersey) Law 2016

On 12 April 2016 the States of Jersey voted to update the Island’s customary law and statutory rules governing the administration of property belonging to children.

This reform is long overdue, the current Tutelle regime and procedure can be traced back to the early thirteenth century and have developed little over time, the last significant update occurring in 1862.

In 2002 the Jersey Law Commission proposed a complete overhaul of the law of tutelles and called for the 1862 statute to be repealed and replaced by new legislation. The new law entitled “Children’s Property and Tuteurs (Jersey) Law 2016” (the ‘Law’) came into force on 22 August 2016.

Details of the Law are described in greater detail here:  http://www.careyolsen.com/publications/a-guide-to-the-childrens-property-and-tuteurs-jersey-law-2016

 

Representation of the C Trust Company Limited [2016] JRC 144

This decision of the Royal Court of Jersey is of interest being only the second case where the Court has heard an application under the Foundations (Jersey) Law 2009 (the “Foundations Law”). It concerns an application by the sole council member of five foundations for various declarations and directions under the Foundations Law.  Please click on the link to read the note in full:  http://www.careyolsen.com/publications/representation-of-the-c-trust-company-limited-2016-jrc-144

 

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Asset Risk Consultants

Bonds Bamboozle Benchmarking October PCI Commentary 2016

Please click on the link below to read a review of the performance of discretionary managers this quarter and their approach to fixed income within portfolios and its implications for private clients and trustees.

current-pci-commentary

 

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