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Members Quarterly Luncheon 
The Conservatory, Moores Hotel.
12.30pm on Wednesday 1st July 2015

Mark Pattimore, GAT Chair will deliver our Industry Round up, including an item on the difficulties of Banking for Guernsey Trustees.

Our Guest Speaker is Richard Walker, States Policy Council, telling us more about the recently published Consultation on Beneficial Ownership.

 June 2015 

This month we are bringing you a number of invites for industry events, including that for our own Member's Lunch on 1st July when Richard Walker from the Policy Council will provide us with more details on the Beneficial Ownership Consultation and Mark Pattimore, GAT Chair will update Members on various matters including GAT talks with AGB regarding the Fiduciary sector and local banking services. 

We are seeking your feedback on behalf of GIBA relating to Housing Applications. Dates for your Diary include the last of the STEP lectures until September, a Guernsey Training Agency event and also invite you to the launch of "digital signOff" organised by ASL.

The Policy Council's response and Press Release to the recent Blacklisting of Guernsey GIBA May Summary Minutes, KPMG Fiduciary Survey Update and Consultation on Electronic Due Diligence and are also included and Carey Olsen present their recent briefing on FATCA, we hope these are of interest to you.
STEP Evening Lecture No. 10 & AGM

When:  25th June 2015
Where:  The Colbourne Room, OGH

Title: The shifting sands of AML responsibility.

Guest Speakers: Susan Grossey, Author.

Summary: In this presentation, Susan will examine recent penalties for anti-money laundering failings, looking at what went wrong, and the growing expectation of regulators and law enforcement that senior management take full and informed responsibility for the AML approach of their organisations.  She will also suggest how you can do that!

STEP Members & Non-Members welcome.

To book on either or both lectures, please click here.
STEP  Breakfast Seminar 
Sponsored by Grant Thornton

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

Title: International Tax Transparency

Guest Speakers:  Andy Cole, HMRC, Kersten Muller, David Pedley, Grant Thornton.

Summary: Grant Thornton have arranged for Andy Cole, HMRC's Director of Specialist Investigations, to present to STEP Jersey on International Tax transparency and regularising the past. He will be joined by Kersten Muller, Grant Thornton UK's Head of Property Advisory Services, who will consider the tax-efficient structuring of UK and international property and David Pedley, from Grant Thornton UK's National Tax Investigations practice, who will focus on the now soon to expire beneficial HMRC disclosure facilities and associated practical issues.


The GTA University Centre is holding a debate on financial service opportunities and their delivery on 30 June, from 4pm, at St Pierre Park Hotel.
The event, titled 'Staying competitive in the 21st century', features a keynote presentation from Chris Brindley, MD Regional Banking at Metro Bank, as well as a panel discussion with leading UK and Guernsey finance figures.
For further information please view the attached flyer. Tickets costs £15 and can be booked through the GTA ( 721555 ) or online at:

Last week Europe dealt a surprising blow to the reputation of Guernsey's Finance Industry by including us on a "Blacklist" of Countries who have been included on 10 or more global blacklists.  

The States have responded swiftly and robustly in defence and you can read here the letter from Chief Minister Jonathan Le Tocq, as well as here the Press Release which you may have already seen.
GFSC Consultation on Electronic Due Diligence seeks feedback from the financial services industry on a number of proposals to amend the Bailiwick's Handbooks for financial services businesses and prescribed businesses on countering financial crime and terrorist financing.

This is an invitation to industry to work with the Commission to endeavor to ensure that the Bailiwick AML/CFT regime provides for the use of advances in technology in fulfilling their due diligence obligations.

The consultation runs until 31 July 2015.

Any questions can be emailed to Steve Chandler prior to your response. GAT is looking at this paper and will submit a response, but if you wish to view the details and make your own submission, click here.

Here are the May GIBA Summary Minutes for your perusal.
GIBA have also asked for your feedback in regard to the process of Housing Applications.

Either where Members feel that the Application may have been unjustly denied. This may be in relation to an initial application, renewal or extension.

Alternatively if you have experience of approved Applications and little or no knowledge of denied Applications.  

Please email us
GAT Sponsor: KPMG Fiduciary Survey is now in it's 3rd year and has received it's highest response rate to date.

Approaching 35 Fiduciaries have participated and KPMG are entering the final stages of collating data before beginning their Analysis.

If you are interested in participating then there is still time to take part in this valuable survey. Contact Gavin Niven.

GAT Sponsors ASL are delighted to invite you to attend the global launch of a game-changing business solution on 1st July at The Rotunda, Royal Avenue, St Peter Port.
Please join them for breakfast or lunch, as a panel of experts illustrate how signOff digital signatures will save your business time, effort and money, keeping you at the forefront of innovation and changing the way you do business.

Please click here for more information.
GAT Sponsors Carey Olsen have issued their recent FATCA update; "Guernsey issues amended legislation and updated draft guidance notes on FATCA-based reporting".
To view this this briefing note in full please click here


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