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Quarter Two 2018

Guernsey Quarterly Trust Update


We are pleased to bring you the second instalment of our Guernsey Quarterly Trust Update.

In this edition, we provide an update on the Court of Appeal judgment in M v St Annes Trustees on Hastings-Bass relief and take a look at the implications for the trusts industry following the recent Royal Court decision in Liang v RBC Trustees (Guernsey) Limited.

We also comment on the big headline from this quarter on the imposition by the UK Government of public beneficial ownership registers on British Overseas Territories. We take a look at the Sanctions and Anti-Money Laundering Act 2018 and the implications for Guernsey. This is followed by a look at a growing trend we are seeing with high net-worth individuals moving to the Channel Islands.

We also have an insight from Angela Calnan on the newly introduced foundations laws and regulations in the DIFC and ADGM. Angela discusses the effect of these changes and the potential opportunities for Guernsey and Jersey.

Finally, in awards-related news, Angela Calnan was in London in June to assist with the judging for the 2019 Citywealth International Financial Centre Awards with the winners due to be announced on 23 January 2019. The IFC Awards recognise companies, advisers and managers in the private wealth sector in the major international financial centres. We also had our own awards success with Greg Haddow being listed by eprivateclient as one of the Channel Islands' Top 35 Under 35 private client practitioners. Greg has also been shortlisted in the Citywealth Future Leaders awards together with Ben Havard and Angela Calnan.

We hope you enjoy this edition.