A picture is worth a thousand words – but for celebrities, it could be worth thousands of pounds. Collas Crill’s managing partner Jason Romer says Guernsey’s new image rights law could be the best way for those in the public eye to protect their assets. This article first appeared in Legal Week, 3 February 2012.

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.

The long-awaited Image Rights legislation in Guernsey has now been made available for consultation. The consultation period runs until 7 March 2012. This briefing note sets out the key points of the Image Rights (Bailiwick of Guernsey) Ordinance, 2012.

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.

The Royal Court of Jersey’s approval of third party funding has given businesses and individuals in the Island improved access to justice. In a recent judgment (In the Matter of the Valetta Trust), the Royal Court has given its approval, in principle, to third party funding arrangements, facilitating access to justice in the Jersey courts by plaintiffs (claimants) who would not otherwise be able to bring a claim, explains Danny Le Maistre.

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.

On 8 February 2012 the US Treasury released regulations relating to the reporting and tax withholding requirements of Foreign Financial Institutions (FFIs) under the Foreign Account Tax Compliance Act (FATCA). FATCA requires FFIs across the globe to report to the IRS on the US accounts they hold. Non-compliance with its requirements will result in a 30% withholding tax being applied to all US sourced income flowing into that FFI. Marcus Hinkley explains more in this article.

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.

Jersey’s inheritance law had not previously provided an automatic right to either unmarried partners or same sex couples to share in the estate of their partners, even those who have entered into a civil partnership in another jurisdiction. However that will change for same sex couples when the Civil Partnership (Jersey) Law comes into force.

With all the excitement, happiness and work that a wedding entails, it’s not surprising that few of us take the extra steps of planning for the future. For example, how will your finances get unravelled if the relationship breaks down or if one of you dies?

The evolution of employment law in Jersey does not look to be slowing down in 2012, with the registration in the Royal Court of two further amendments (Amendment 6 & 7) to the Island’s principal employment legislation, the Employment (Jersey) Law 2003, on 6th January 2012, and amendments to the Island’s minimum wage soon to be in effect. Simon Hurry looks at each in more detail.

The economic climate in 2011 certainly kept Collas Crill’s employment department busy; many reputable employers were forced to make redundancies as a cost-cutting exercise. Employment specialist Emma Parr says it is extremely important that Jersey employers are aware of the increasing developments in the islands employment legislation. With the number of employment tribunals on the increase it is essential that employers are fully prepared and not taken by surprise.

Until recently, banks lending on property in England and Wales would also instruct the borrower’s solicitor in all but high value transactions. Following a change in the conduct rules for solicitors at the end of 2011, a solicitor may only act for both the bank and the borrower in very limited circumstances.