Trust Corporation International attended as the sole gold
sponsor of the two-day event and distributed Guernsey Finance
marketing literature from their prominent exhibition stand.
"People seemed to home in on the Guernsey collateral - they
were interested in what Guernsey can offer as a jurisdiction.
We've worked at raising awareness because Americans have
historically favoured the Caribbean financial centres and are
familiar with what they know,", said Mrs Daley Taylor.
"There's a definite interest in shifting away from that
now. We're introducing Guernsey as a viable alternative with a
strong judicial system and regulatory environment that can offer a
She said that a move towards global transparency has been
helpful in marketing 'Guernsey PLC' to US clients.
"The nature of North Americans is that they are familiar
with compliant structures and are generally comfortable with a
higher level of disclosure. In light of the move in legislation
towards greater transparency Guernsey becomes a more attractive
option due to our reputation as a robust and transparent
The conference included technical updates from distinguished
speakers exchanging ideas and discussing developments in
international estate planning. It focused on the needs of
international families with a US touchpoint. There were also
discussions about the practicalities of Common Reporting Standards
(CRS) and other global initiatives following on from FATCA. As part
of their sponsorship package Trust Corporation International hosted
a breakfast meeting for delegates. They also held private dinners
for law firms, accountants and tax and wealth planners.
The Guernsey independent fiduciary firm identified the US as a
key market for its services some years ago and was attending the
New York event for the third consecutive year.
Mrs Daley Taylor added: "Attending the event for a third
time has meant that we've been able to cement some of the
relationships we've been building with our previous visits.
Relationships are key to our business and the Trust Corporation
ethos so meeting up with some familiar faces across the Atlantic is
always very rewarding."
Probably the most significant change from previous practice in Guernsey law under the Companies (Guernsey) Law 2008, which came into effect on the 1 July 2008, was the consignment to history of the concept of capital maintenance, which was discarded in favour of a solvency model as the basis of a company’s ability to pay distributions and dividends.
In Re: Caversham Trustees Limited  JRC 65, the Royal Court set out steps that should be taken by an outgoing trustee in order to comply with its duty to transfer trust assets to the new trustees, and provided further guidance as to what security the trustee could legitimately require.
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