UK offshore centres look at controls

Jersey has presented a draft law to the Government to regulate corporate and trust services. With the Edwards report still lurking in the political background, UK territories are making a collective decision to re-examine the area of corporate and trust services regulation. Guernsey, the Isle of Man and Bermuda are also looking at these areas. Although there is no direct co-operation between them, a raft of legislation is set to emerge from these jurisdictions over the next few years. On the trust side, there are few jurisdictions in the world that actively regulate trustees, even among ...