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15% Global Minimum Tax Rate: Draft Legislation lodged in Jersey

Following Jersey's intention to implement the OECD proposals for a 15% global minimum tax rate (known as "Pillar 2") in May 2024, draft legislation has now been lodged introducing a new standalone Multinational Corporate...more

New trends in use of Jersey and Guernsey structures by US fund managers targeting European assets or capital

Over the last few months, we have started to see new trends in inquiries and instructions regarding the use of Jersey and Guernsey structures by US managers targeting either European assets, or European capital....more

Guernsey announces further details of OECD Pillar Two implementation

Following on from the Crown Dependencies re-affirming their commitment to implementing the Organisation for Economic Co-operation and Development’s Pillar Two framework for accounting periods commencing on or after 1 January...more

Guernsey and Jersey re-affirm commitment to OECD Pillar Two implementation

The Crown Dependencies have re-affirmed their commitment to international tax standards and the continued value of inter-island cooperation in areas of mutual interest in international tax policy. Ministers from...more

Why Jersey and Guernsey companies are a great choice for UK REITs

What is a UK REIT? A Real Estate Investment Trust (REIT), despite the name, is a company (or group of companies) carrying on a property rental and investment business which, if it meets certain conditions, can elect to...more

Why Guernsey and Jersey for private equity?

Guernsey and Jersey have long been popular places used by private equity investors in acquisitions of target businesses given the advantages they offer over other jurisdictions. We're taking a closer look at some of these...more

Guernsey data protection series – Data Subject Access Requests

This briefing is a part of a Walkers series on the Data Protection (Bailiwick of Guernsey) Law, 2017 (the "DPL"), and provides an overview of section 15 of the DPL (the Right to Access) and describes some key points which...more

Guernsey data protection series – international data transfers

This briefing is a part of a Walkers series on the Data Protection (Bailiwick of Guernsey) Law, 2017 (the "DPL"), and deals with the transfer of personal data outside Guernsey. A "data transfer" occurs when an individual's...more

Guernsey data protection series – personal data breaches

Introduction This briefing is part of a Walkers series on the Data Protection (Bailiwick of Guernsey) Law, 2017 (the "DPL"), and provides an overview on personal data breaches.  It describes some key points which...more

Guernsey data protection series - principles, key concepts and rights

The Data Protection (Bailiwick of Guernsey) Law, 2017 (the "DPL") came into force on 25 May 2018 to coincide with the enforcement of the EU's General Data Protection Regulation (EU) 2016/670 (the "GDPR"). The European...more

Guernsey data protection series – privacy notices

This briefing is part of a Walkers series on the Data Protection (Bailiwick of Guernsey) Law, 2017 (the "DPL"), and provides an overview on what information organisations must provide data subjects when they collect...more

Guernsey data protection series - the seven data protection principles

This briefing is part of a Walkers series on the Data Protection (Bailiwick of Guernsey) Law, 2017 ("the DPL") was drafted to reflect the EU's General Data Protection Regulation (the "GDPR"). The DPL came into effect on 25...more

FATCA / CRS update: Jersey consultation announced

The Minister for External Relations of the Government of Jersey (GoJ) recently announced a public consultation seeking views on a number of proposed changes to the operation of the Common Reporting Standard (CRS) and the US...more

Exercise of regulatory powers in Guernsey: GFSC v Domaille and others

In our recent article (available here) we reported that the Guernsey Financial Services Commission (the "GFSC") had been granted leave to appeal to the Court of Appeal. The GFSC obtained leave to appeal on the basis of a...more

New Guernsey trading standards rules from October 2023

Introduction - The Trading Standards (Fair Trading) (Guernsey) Ordinance, 2023 (the "Trading Standards Ordinance") is due to come into force on 2 October 2023.  From this date, businesses in Guernsey will be subject to...more

New Guernsey unfair contract terms rules from October 2023

Introduction - The Trading Standards (Fair Trading) (Guernsey) Ordinance, 2023 (the "Trading Standards Ordinance") is due to come into force on 2 October 2023.  From this date, businesses in Guernsey will be subject to...more

Guernsey Guide: legal, regulatory, transparency and supervisory framework

This briefing explains Guernsey’s adoption of rigorous international tax and regulatory standards, which, in conjunction with its local tax law, make it an ideal location for investment funds and other investment vehicles....more

Application for leave to appeal granted to GFSC

In our recent article (available here) we considered the findings of LB Marshall KC in Domaille, Clarke & Hannis (together the "Respondents") and the Guernsey Financial Services Commission (the "Royal Court Judgment"). In the...more

New independent compliance audit requirement in Guernsey

The Guernsey Financial Services Commission ("GFSC") updated its Handbook on Countering Financial Crime and Terrorist Financing (the "Handbook") in early July 2023 and the updates included a new requirement for a "specified...more

Regulation of virtual asset service providers (VASPs) in Guernsey

This briefing is the fourth in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCFL"), and provides an overview of the licensing regime applicable to Virtual Asset...more

Regulation of financial firm business in Guernsey

This briefing is the third in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCFL"), and provides an overview of the licensing regime applicable to "financial firm...more

Regulation of consumer lending and credit business in Guernsey

This briefing is the second in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the “LCFL”), and provides an overview of the licensing regime applicable to consumer...more

Guernsey's consumer lending, financial firm business, virtual assets and financial platforms licensing regimes

From 1 July 2023, the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCFL") came into full effect, replacing and expanding upon the previous now repealed regime under the Registration of Non-Regulated...more

Guernsey extends fiduciary licence exemptions and introduces new AML / CFT registration process

Providing services as a director in Guernsey is, in principle, subject to licensing under the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the “Fiduciaries...more

Guernsey regulator updates AML/CFT handbook

The Guernsey Financial Services Commission ("GFSC") has updated its Handbook on Countering Financial Crime and Terrorist Financing (the "Handbook") to cover virtual asset service providers ("VASPs") and other licensees...more

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