Dominic Wheatley, Chief Executive of Guernsey Finance - the
promotional agency for the Island's finance industry, said:
"Guernsey's finance industries have long had strong links
with the USA and we very much welcome the Chief Minister's
visit. Reinforcing these established connections provides a solid
foundation on which to build and there are some exciting
opportunities for the future.
"The Chief Minister's work is important in ensuring
that Guernsey's commitment to global international standards of
regulation and transparency is recognised in the US and
subsequently opens the door for new business opportunities.
"These include investment funds and Insurance Linked
Securities and a team led by Guernsey Finance will be attending
SIFMA's ILS conference in New York at the end of this
The asset sharing agreement was signed on behalf of Guernsey by
HM Procureur, Howard Roberts, and Kenneth A. Blanco, the Deputy
Assistant Attorney General in the USA Department of Justice, in
Guernsey on 27 January. The benefits of such an agreement include
the ability to set clear guidelines and apply a consistent approach
to asset sharing rather than on a case by case basis. This year
Guernsey has the Presidency of the Camden Assets Recovery
Inter-agency Network (CARIN).
The Chief Minister said: "Guernsey has an excellent
track-record of partnership with the USA. For example, we partner
with their authorities on shared objectives such as combating
financial crime and the funding of terrorism, and on asset
freezing, asset recovery and the effective implementation of
"Guernsey and the USA have shared interests in
international growth and prosperity and I was pleased that those I
met with understood that Guernsey's finance sector has a strong
role to play in that. It was very useful to reinforce the message
that Guernsey is a mainstream international finance centre built on
quality and stability, and that we have a political, business and
regulatory commitment to meeting the highest international
"It was encouraging to note increasing recognition of our
global expertise in key areas such as captive insurance, and I was
also pleased to have the opportunity to explain our unique status
as a Crown Dependency with a strong growing international identity,
and as a friend of the USA."
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We were recently instructed by a Bank in relation to a regulatory matter. The Bank had made a suspicious activity report to the Financial Investigation Unit ("FIU") due to their concerns about the potential source of funds in an account.
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