The Channel Islands Stock Exchange (“CISX”), which is based in Guernsey, commenced operations in October 1998, since when it has approved over 4,000 securities for listing with a total market capitalisation of over US$50 billion. Some of the strengths of the CISX are competitive pricing, responsive and approachable market authority that meets daily to consider its applications for listings, a highly personalised approach, international standards of issuer regulation, enhanced marketability and added value service, as well as a premier location. This Factsheet summarises some of the important factors when considering listing Eurobonds on the CISX, CSX or LuxSE.

The use of cash box structures is becoming increasingly popular as a means of facilitating equity or bond issues. In this article, Rosie Stott summarises the ways in which a UK public company listed on the London Stock Exchange or AIM, may raise money using a Jersey company ‘cash box’ company, either by a placing of its shares or through the use of a convertible bond.

From 1 January 2013, FATCA will require foreign financial institutions (or “FFIs”) to enter into an agreement with the US Internal Revenue Service (the “IRS”). In this article, Rosie Stott explains what this means for Channel Islands businesses.

This article details the regulations released by the US Treasury on 8 February 2012, relating to the reporting and tax withholding requirements of Foreign Financial Institutions (FFIs) under the Foreign Account Tax Compliance Act (FATCA).

On Friday 24 February 2012, Jersey and Hong Kong signed a double taxation agreement. This DTA represents strong progress for Jersey’s business development in the Hong Kong Special Administrative Region of the People’s Republic of China and follows closely on from the approval of both Jersey and Guernsey as approved jurisdictions for the Hong Kong Stock Exchange, both for fund vehicles and trading companies.

Guernsey’s much discussed Code of Corporate Governance came into effect on 1 January 2012. In addition to applying to all companies licensed by the Guernsey Financial Services Commission (including Guernsey investment managers, administrators and custodians), the Code will apply to Guernsey authorized and registered collective investment schemes.

Further to our March Fund Newsletter the Guernsey Financial Services Commission has now released the form of the Corporate Governance Assurance Statement.   This is required to be issued by the Boards of entities governed by the T...

From 1 March 2012 the Rules of The Royal Court in Jersey regarding bodies corporate being represented by its Directors in respect of Court proceedings are changing.

There are several ‘crisis’ scenarios in which a regulated financial services institution might be required to disclose documents they hold. There is an ever increasing chance of a business finding itself faced with one of these situations, says Ben Havard. In this article he suggests ways to to ensure your business remains as strong as it can when one emerges.

In the current economic climate it would seem that the Guernsey Financial Services Commission is taking regulatory action more regularly and forcefully than in years gone by. This article outlines the GFSC's specific enforcement powers, rights to appeal and what you should do if you receive an enforcement notice.

The (as yet, unreported) decision of the Court of Appeal in the matter of The Chief Officer, Customs & Excise, Immigration and Nationality Service -v- Garnet Investments Limited could have wide ramifications for the banking industry and those regularly subject to the reporting regimes under the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey Law 1999 (the Proceeds Law). David O'Hanlon looks at the view of the Court of Appeal in Garnet that the burden of demonstrating whether or not the funds a bank holds are ‘tainted’ fall on the bank, rather than its customer or the Financial Intelligence Service.

Guernsey’s Finance Sector Code of Corporate Governance came into force on 1 January 2012. It replaces the Guidance on Corporate Governance in the Finance Sector issued in December 2004 by the Guernsey Financial Services Commission, as Ian Kirk explains.

From 2009, the Finance Act 2008 authorised HMRC to issue information notices requiring UK financial institutions to provide HMRC with certain information and documentation, within their power or possession, relating to account holders who have an address within the United Kingdom and who hold a non-United Kingdom account. If a UK financial institution receives a notice and has a subsidiary or maintains a branch in the Channel Islands, its response to HMRC depends on the particular factual position applying to that institution, as David Dorgan explains.

There are several “crisis” scenarios in which you, as a financial services institutions in Guernsey or Jersey, might be required to disclose documents you hold. This article considers how to minimise a requirement to disclose embarrassing communications.

FATCA will be one of the most significant, and onerous, developments in compliance over the next couple of years. FATCA is the means by which the United States intends to make Foreign Financial Institutions (“FFIs”) work for them to provide information on their US account holders or owners. The US, specifically the IRS and US Treasury Department, intend to use the information to uncover US citizens who may be holding untaxed income offshore. This article provides a brief overview and Collas Crill will be holding an in-depth seminar on the issues surrounding FATCA in Guernsey on 18 October and in Jersey on the 19 October 2011. Please contact jane. darvell@collascrill.com to book your place at either seminar.