Guernsey Commission slams lack of cross-border co-operation

Peter Neville, director general of the GFSC, said co-operation and information exchange between regulators is 'absolutely critical' especially in times of crisis. "At present, the global system of cross-border co-operation is not working well," he said. However, the inquiry concludes the Commission measured up to good practice and its 'actions were wholly justifiable' given the facts known at the time, said Neville. He believes all those involved must now concentrate their collective efforts on recovering depositors' money, including keeping pressure on LGL's parent company and Icelan...