A number of legislative and regulatory developments in both Jersey and Guernsey are explored in our autumn issue of Collas Crill Funds News, including the implementation of the AIFM regime across both Jersey and Guernsey and the extension of the grace period for the Companies (Guernsey) Law transitional provisions to 31 December 2015.

We also consider the welcome confirmation from the UK Prime Minister that the Channel Islands cannot fairly be called tax havens.

Meanwhile in Singapore Leon Santos looks at the advantages and challenges of doing business in Asia following September's Super Return conference in Hong Kong.

And finally, Euroclear UK & Ireland has been given recognition by the GFSC under The Uncertificated Securities (Guernsey) Regulations, 2009 as an overseas operator. With this recognition the admission of securities of Guernsey companies to trading on electronic platforms maintained by Euroclear has been greatly simplified, removing the need for complicated redrafting of articles of incorporation - it is a welcome move.


The AIFM regime has now been successfully implemented in both Jersey and Guernsey. Paul Wilkes and Mark Rawlins provide an update from both islands. 


"The best time to come to Asia was 30 years ago, and the next best time ... is today." One of the headlines from this September's Super Return conference in Hong Kong was Ontario Teachers' Pension Plan setting up in Hong Kong to focus on its Asia portfolio. Leon Santos looks at the trends and challenges of doing business in Asia.


David Cameron, the UK Prime Minister, announced in parliament on 10 September that Jersey and Guernsey should not be called tax havens.

He said: "I do not think it is fair any longer to refer to any of the ...Crown dependencies as tax havens. They have taken action to make sure that they have fair and open tax systems. It is very important that our focus should now shift to those territories and countries that really are tax havens. The Crown dependencies ..., which matter so much - quite rightly - to the British people and Members, have taken the necessary action and should get the backing for it."

Reflecting on the announcement, Collas Crill partner Mark Rawlins said: "We believe this acknowledgement is a welcome step and recognises the work undertaken by Jersey and Guernsey in adopting international standards on combating money laundering, tax evasion and terrorist financing."

"We are proud to receive such recognition, which now corresponds to the views of the IMF, IOSCO and the OECD. Both Jersey and Guernsey exist to facilitate reputable business and, indeed, the growing book of business we are experiencing from institutional investors and funds is testament to this positioning. We expect there to be further increased use of the Channel Islands by businesses seeking a reputable home for their monies and products."


In Guernsey the grace period for the Companies (Guernsey) Law transitional provisions has been extended to 31 December 2015.  Alex Wickens looks at how this may impact you.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.