Breaking news: Foot report published

MICHAEL FOOT’S Review of British offshore financial centres was published this morning.
The report has been referred to as an economic healthcheck of the three Crown Dependencies, including Guernsey and the six overseas territories, such as Bermuda, British Virgin Islands and the Cayman Islands.
The recommendations, within the nearly 90-page report, cover the quality and extent of economic planning, meeting international standards on tax transparency, financial sector regulation and tackling financial crime.
Others made include ensuring that deposit protection schemes can be understood by depositors, considering whether an ombudsman scheme is justified, and crisis prevention and resolution measures.
Friday’s Guernsey Press will feature local reaction to the report and a summary of its recommendations.

• Click here to access the full report as a PDF from the HM Treasury website. (from thisisguernsey)