Guernsey: New Guernsey Trust Law Takes Centre Stage
Last Updated: 16 May 2008

The new Guernsey Trust Law will be explored at a masterclass being held in central London early next month.

The event, entitled ‘Guernsey – Highlights of the New Trust Law’, is being held in the early evening of Monday 2 June at the IoD, 116 Pall Mall.

Peter Niven, Chief Executive of GuernseyFinance, said: "The new Guernsey Trust Law came into effect in March and made a series of changes, such as the introduction of Purpose Trusts that have given the Island’s fiduciary practitioners enhanced flexibility in providing solutions to meet the ever-evolving needs of their clients.

"These trustees are finding their client base to be of an increasingly international nature however London remains the principal introducer of business. Therefore at the masterclass we will be explaining to existing and new contacts in the City the changes brought about by the introduction of the new Trust Law and their practical implications."

The keynote speaker will be Professor Paul Matthews, visiting professor at King’s College London and consultant to Withers. He will also chair the main session which is being led by Russell Clark, Partner, Carey Olsen and includes an expert panel consisting Alison MacKrill, Chairman, Guernsey branch of STEP, Jon Heaume, Chairman, Guernsey Association of Trustees (GAT) and Michael Betley, Deputy Chairman, GAT.

Mrs MacKrill said: "Paul is a renowned trust expert. In particular he is familiar with the latest developments across international finance centres generally so it will be interesting to hear his objective view on the new Guernsey Trust Law and how the Island might make yet further enhancements to ensure that it stays ahead of other competing jurisdictions. For example, we have already started and continue to work on the introduction of Foundations as a way to ensure that the Island’s providers can offer clients the very widest range of products and services."

The main session will be followed by drinks and canapés kindly sponsored by AP Executive.

"The aim is to have a focused core session and thereby allow time afterwards for what are extremely valuable additional networking opportunities between members of Guernsey’s fiduciary industry and introducers of business from the City," added Mr Niven.

The masterclass comes on the back of Guernsey this year introducing fiduciary development forums. It is hosting these discussion sessions with leading London fiduciary professionals so that it can explore at first hand exactly what introducers of business want from international fiduciary centres. The findings will then form the basis of proposals for the development of Guernsey’s fiduciary environment as the Island looks to enhance business flows from the City and beyond.

It has already held two this year with the second taking place at the end of April where attendees comprised a leading wealth management journalist and Partners of Macfarlanes, Rooks Rider, Lawrence Graham, Payne Hicks Beach and Withers.

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