They say there is nothing more certain in life than death and taxes. I would add regulatory change to this list of certainties. As well as being inevitable, all three share another characteristic as the timing of these events can often be unpredictable (or uncertain)!
Mandatory Disclosure Rules (“MDR”) for CRS Avoidance Arrangements and Opaque Offshore Structures were approved by the States of Guernsey. This is in line with Guernsey’s commitment to introduce legislation for MDR by 31 December 2019 in line with the timetable set for EU countries.
Similar commitments have also been reflected across the crown dependencies in a bid to preserve our regulatory environment. The aim is to dissuade advisers from endorsing avoidance schemes by enforcing a responsibility to disclose information on such schemes.
The regulatory world is increasingly complex and as a robustly licensed and regulated trust business, we strive to keep abreast of and implement all relevant regulatory changes in order that we can satisfy our fiduciary obligations as trustee to preserve and enhance your assets.
We send regular emails as to how we help high net worth individuals, and their families, with their bespoke wealth needs.
Should you require any further information as to how we help family offices, please contact your usual Nedgroup Trust relationship manager who would be happy to discuss examples of the support we provide and help you understand the different options available to you.
Or, if you are not a client, but would like to find out about Nedgroup Trust’s services, please get in touch using the links to the forms towards the end of the page.
Based in Guernsey, Matt heads up the risk and compliance function for the Channel Islands trust business. He has worked in the risk and compliance field for over 18 years, over half of those as a regulator. Prior to that, he worked in the trust industry and in banking and fund management.
Matt holds a Master’s degree in Corporate Governance and is a member of The Chartered Governance Institute (ICSA).
Head of Risk & Compliance, Nedgroup Trust
Based in Guernsey, Matt heads up the risk and compliance function for the Channel Islands trust business. He has worked in the risk and compliance field for over 18 years, over half of those as a regulator. Prior to that, he worked in the trust industry and in banking and fund management.
Matt holds a Master’s degree in Corporate Governance and is a member of The Chartered Governance Institute (ICSA).
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