Chief Minister writes to Prime Minister
As the fallout from the leakage of the “Panama Papers” rumbles on, Guernsey’s Chief Minister has recently written to the UK Prime Minister, David Cameron pointing out that Guernsey has demonstrated its “active and practical commitment” to the international anti-corruption agenda.
The letter points out to the Prime Minister that Guernsey was one of the first financial centres in the world to regulate its fiduciary and corporate services providers, and that the Island has worked in a “timely and effective” manner to comply with global standards.
A recent evaluation report by the Council of Europe’s monitoring group Moneyval, showed that Guernsey has in place a range of measures to facilitate various forms of international cooperation and plays host to authorities and financial institutions that are highly competent, knowledgeable and aware of their obligations.
The move by the Chief Minister appears to be in line with that being taken by several other Crown dependencies and British overseas territories to raise awareness of the factual position in relation to transparency and international cooperation and to counter criticism of these jurisdictions by uninformed commentators.