Offshore Investment

British expats and those living in Guernsey should be able to open bank accounts on the UK mainland following the collapse of one of Guernsey's high street banks, says Landsbanki Guernsey Depositors Action Group (LGDAG).

The FSA was warned in 2005 not to approve Kaupthing's takeover of Singer & Friedlander (S&F) following concerns over the way the Icelandic bank was run.

Jersey Financial Services Commission (JFSC) has commenced its search for a successor to its current chairman Colin Powell.

VAM Funds has launched a sterling and euro share class for the VAM Driehaus Fund to prevent investors being exposed to currency risk.

Fairbairn Private Bank has appointed David Stearn as head of business development following the retirement of Barry Besnard.

Canada Life International's (CLI) Premiere Account and Wealth Preservation Account have been added to Seven Investment Management's (7IM) platform.

IFAs are not responsible for misjudging the risk to depositors placing money in collapsed bank Kaupthing Singer & Friedlander Isle of Man (KSFIOM), according to the Association of Independent Financial Advisers (AIFA).

The Kaupthing Singer & Friedlander Depositor Action Group (KSFIOM DAG) has urged the Isle of Man government not to 'railroad depositors' into a Scheme of Arrangement to save its 'political and financial bacon'.

The Isle of Man has signed tax agreements with Australia as part of its programme of developing closer economic and tax ties with other countries.

The Treasury has stressed responsibility lies with the States of Guernsey to support Landsbanki Guernsey depositors and recover their full savings.