A round table discussion on the future of offshore jurisdictions featuring both representatives from Jersey Finance and the Financial Times took place this week in the City of London. The debate, on Tuesday 31 March, was organised by the Centre for the Study of Financial Innovation, and is one of a series that the organisation arranges to foster debate on key issues that affect the City of London. The audience included finance and legal professionals, representatives from Government and regulators, academics and financial journalists.
Geoff Cook, Chief Executive of Jersey Finance, was one of the speakers alongside Stephen Platt, chairman of the BakerPlatt Group, a law firm which specialises in financial crime and international co-operation. The third speaker was Vanessa Houlder, a leading Financial Times journalist who specialises on tax issues.
Geoff Cook commented:
‘With ‘tax havens’ and regulation on the agenda at the G20 Summit, this was an ideal time to be discussing the future of offshore jurisdictions which are to be co-operative and have high standards of regulation. The discussion centred on the services that co-operative jurisdictions such as Jersey offer the City and the unfair criticism of them. The audience response to the panellists and their views was extremely positive and supportive.’In the build up to the G20 summit this week, there has been increasing interest in issues of secrecy and regulation in offshore jurisdictions. On the same day as the CSFI debate, Geoff Cook was interviewed on BBC Radio 4’s flagship morning programme ‘Today’ re-iterating Jersey’s position as a transparent, well regulated and co-operative jurisdiction along with John Whiting, a partner at PricewaterhouseCoopers in London.