To view this email online, @link@.
 
 
 
 
 
 
GAT: FATCA Update & AGM

A reminder that you have been invited to attend the GAT FATCA Update hosted by Jo Huxtable & Martin Popplewell of Deloitte on Monday 27th April 2015  to be preceded by the GAT AGM. Click here for details and to book.

Charity
A new charitable organisation "Sidneys Sponsored Events" is seeking Sponsorship to assist with putting on a Summer event with all profits going to Cheshire Homes.

For more details please see here.


 
 
 March 2015 


This edition brings you details of forthcoming events including our next event in April, which will include a FATCA Update and a request from a new local Charity for Sponsorship.

Future STEP Guernsey events of interest including the Annual Conference being held on 11th June.

In addition, we bring you the latest UK update on Fintech and following the UK Budget 2015, the Tax Office have provided an update on the Guernsey Disclosure Facility that they have asked us to circulate to Financial Intermediaries.

News of 2015 KPMG Fiduciary Survey and 
Guernsey Finance have their Guernsey Funds Forum in May which is their biggest promotional event.

GIBA have also circulated their latest minutes which are here for your review.
 
 
 
 
 
STEP Lunchtime Lecture No 7.

When:  15th April 2015
Where:  The Colbourne Room, OGH

Presentation:
In Directors we Trust?

Guest Speakers:
Simon Davies is a Partner and Head of Ogier's Dispute Resolution practice in Guernsey.

Summary:
A seminar on trustees and trust controlled companies: a melting pot of company law, fiduciary duties and the commerciality of the prudent man.

For details of how to book please click here.
 
 
STEP Annual Conference 2015

The STEP Guernsey Branch invite members and non-members to attend the Annual STEP Conference at Beau Sejour on 11 June 2015.

STEP Guernsey's flagship event, sponsored by Carey Olsen allows delegates to meet and network, and also to gain important knowledge and technical updates from outstanding speakers in the industry.

For more information and to book your place please click here.

 
 
 
 
 
 
The latest UK report on FinTech has been released and can be viewed here.
 
This report sets out the findings of a review by the Government Chief Scientific Adviser on FinTech.

It looks at:
- what government can do to help achieve the economic potential of FinTech
- how companies can work more closely with academia to ensure that the UK continues to be a world leader in this area

It recommends a number of actions for government to support the growth of the sector.
 
 
 
 
The GFSC has two updates for Members: click here to view News Release about the reviews they have undertaken to the the Handbooks for Anti-Money Laundering and Combating of Financing of Terrorism.

The Commission has launched a new section on its website dedicated to providing important guidance and information for consumers. Click here for more details
 
 
 
 
 
 
 
KPMG Channel Islands are pleased to announce the continuation of their Guernsey fiduciary survey which will enter its third year in 2015. Last year's survey saw a greater depth of analysis thanks to the extra information provided by participants through the completion of our brief questionnaire and we will shortly be contacting participants to discuss their results as benchmarked against industry.

Our survey is currently the only local market survey and we aim to provide participants with valuable sector data and KPIs, highlighting key drivers of performance to allow benchmarking against industry competitors; ultimately assisting with corporate strategy development.

By aggregating participant data into groups based on total revenue we ensure anonymity of information whilst allowing participants to view information on competitors of a similar size. 
We are offering all fiduciary licensees the chance to participate in the 2015 survey and aim to publish the survey results in quarter three of this year.

If you would like to participate in this year's survey or are simply interested in finding out more please contact either Ashley Paxton or Gavin Niven on 01481 721000.
 
 
 
 
 
The Guernsey Disclosure Facility (GDF)
In the UK Budget 2015, it was announced that the UK would be terminating their current ongoing disclosure facilities, including the Guernsey Disclosure Facility (GDF) at the end of 2015 (instead of 30 September 2016 as was originally intended).

Under the GDF, Guernsey undertook to require financial intermediaries to notify clients, in March 2016, that the GDF was coming to an end on 30 September 2016.

If the GDF is to terminate, in December 2015, this obligation will fall away.

It will be for individual financial institutions to decide, therefore, whether, for their own operational reasons, they wish to notify clients that the GDF will terminate at the end of 2015.
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If you have previously indicated that you wished to receive updates relating to the exchange of information, including the IGAs  (incorporating FATCA) and the Common Reporting Standard ( CRS) you will have recently received a message from Alexis Morgan, Tax Office.

Click here to see the Bulletin 2015/1 that was attached to the message which reminds any Guernsey Financial Institution which anticipates it will have reporting responsibilities under the US IGA (for  2014 data) to ensure adequate time has been left to obtain GIIN(s) from the IRS and register with the Information Gateway Online Reporter ( IGOR) . The final date is anticipated to be 11 May 2015, or earlier.

The document is available at http://www.gov.gg/article/109356/Intergovernmental-Agreements-FATCA, which also contains further information concerning both the US and UK IGAs.
 
 
 
 
The Guernsey Funds Forum is the Island's biggest promotional event to London's funds decision makers. In 2014 it attracted 367 attendees including 259 off-Island delegates, attendees include investors, advisers, auditors, promoters and investment managers.

This year there have a brand new venue offering state of the art conference facilities in the heart of the City.

The Guernsey Funds Forum will take place on Thursday 14 May at 55 Bishopsgate, London.

For more information and to register your place please visit Guernsey Finance here.

 
 
 
 
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