From Features

Guernsey 2018

As Featured in the Guernsey 2018 Supplement

Guernsey's reputation as a leading specialist financial centre has been firmly established over the last decade and more. Its top-quality financial services sector has grown and Guernsey has been recognised as a lead player on the global stage. Alongside its established and successful investment solutions, such as the Protected Cell Company, which has been in use in Guernsey for 20 years, Guernsey is also ensuring it is leading the way with its innovation and regulation of new products and services, for example, in the field of fintech and with the advent of blockchain technology.

This forward-thinking approach to business, coupled with the ability to evolve and respond to global financial change is what makes the Guernsey business model so successful.

In this special supplement, we showcase Guernsey's specialist skillset and its ability to prosper within the current cliate by ensuring its compliance with global standards while maintaining its competitive edge. We hear from the pillars of the Guernsey financial sector - the Guernsey Financial Services Commission, Guernsey Finance and the Guernsey Government who take us through the building blocks that have given the Island its confidence to think outside the box when developing its progressive services and product range.

Alongside these public bodies, we include comment and case studies from private practitioners, on areas such as; investment funds, incorporated cell companies and The International Stock Exchange.

The IFC Guernsey supplement provides a succinct summary of the success story that is the Guernsey Financial Centre.

Ciara Fitzpatrick, Editor

Guernsey: Stability, Quality and Competitiveness

Guernsey: Stability, Quality and Competitiveness

Gavin St Pier
Chief Minister of Guernsey

Guernsey's primary offer is stability, quality and competitiveness - a clear and compelling offer that is well understood right across the globe.

During a meeting with the Ambassador from one of the world’s major economies, the Ambassador told me that Guernsey’s strategic position was almost too good to be true: part of the British Isles and part of the sterling zone but not a part of the United Kingdom; a strong cultural, geographic and business relationship with Europe but not part of the European Union; and with deep historic and trading links across the world.

Aside from the happy accident of geography, it has taken determination, vision and investment to develop that strong strategic position.

Guernsey’s government is absolutely committed to maintaining that strong strategic position, and that clear and compelling offer of stability, quality and competitiveness.

Guernsey’s stability comes from its historic ties with the British Isles, London and the City.

As a Crown Dependency, we exercise a large degree of autonomy. That includes our own legal, fiscal and judicial systems. We receive no funds from the UK or the EU and …


Guernsey: A Modern Finance Environment for a Complex World

Guernsey Finance Chief Executive Dominic Wheatley explains how Guernsey’s financial services sector has remained at the forefront of innovation in the past year and is utilising its expertise across a variety of asset classes.

Recent events in the Caribbean have reminded us of the destructive power of Mother Nature. Global warming is changing traditional weather patterns, increasing the incidence of tropical storms and increasing their ferocity. This is placing substantial burdens on the wholesale reinsurance markets to meet the aggregate claims that arise out of such events.

Insurance linked securities (ILS) are a means by which investors can provide additional capital into the market against this risk, providing investors with enhanced returns in today’s low interest environment. ILS also has a risk profile that is non-coterminous with that of conventional financial assets, facilitating improvements in the overall risk profile of investors’ portfolios.

Guernsey’s combination of both fund and insurance expertise within industry and at regulatory level has positioned the island at the heart of this fast-developing market. Fund managers and promoters with capital to deploy are brought together with transfor…

In the Chair

Q&A with William Mason, Director General of the Guernsey Financial Services Commission

In an interview with IFC Guernsey, William Mason discusses the obstacles and opportunities that maintaining a robust regulatory regime presents for the Island’s financial services sector and its reputation on the international stage.

IFC: How important is Guernsey’s regulatory regime to the success of its financial services sector?

William Mason: Guernsey’s proportionate, risk-based approach to regulation is an integral component of the financial services sector. It contributes to the island’s success as an international financial services centre, enhancing its excellent reputation as a good place to do business. Financial services firms and their clients are increasingly looking to place their business in reputable jurisdictions which have a demonstrable track record in providing good regulation to international standards.

IFC: How would you describe the relationship between the Guernsey regulator and the private practitioners on the island?

WM: The Commission has a constructive working relationship with the main industry bodies, with all parties respecting where the boundaries are drawn. The Commission hr regular dialogue with those bodies so that issues and areas of mutual interest can be explored at the earl…