Guernsey Crown Dependency Of The United Kingdom

The financial services sector plays a dominant role in the economy of Guernsey. The report is organized in two volumes. Volume I provides the findings and the Reports on the Observance of Standards and Codes (ROSCs). Volume II provides the detailed assessments of the Basel Core Principles for Effective Banking Supervision, the insurance core principles, the objectives and principles of securities regulation, and the financial action task force recommendations, as well as a review against the Offshore Group of Banking Supervisors (OGBS) statement of best practice for trust and company service providers.

Guernsey is an independent British Crown Dependency located in the English Channel between the United Kingdom and France. The island has a rich history, having been settled since prehistoric times and later experiencing invasions by both the Vikings and the Normans. Guernsey is known for its beautiful beaches, its mild climate, and its unique culture that blends British, French, and Norman influences. The island has its own currency, the Guernsey pound, and its own legal system, although it is defended by the UK and relies on it for certain services such as defense. Guernsey is also a thriving economic center, with a strong financial services sector thanks to its favorable tax laws and regulations. The island is home to a number of international banks and insurance companies, as well as local firms that support the tourism and agriculture industries. The government of Guernsey is committed to maintaining a high quality of life for its residents, protecting the environment, and preserving its heritage while also embracing modern technology and innovation. Visitors to Guernsey can enjoy a wide variety of activities, from exploring the castles and museums to hiking along scenic coastal paths or sampling local cuisine in one of the island's many restaurants.

Crown Dependencies : Eighth report of session 2009-10, report, together with formal minutes, Vol. 2: Oral and written Evidence

Balleine's history of Jersey

The completion of the detailed assessment serves several purposes. First, it benchmarks the current state of banking supervision, recognizing that there have been extensive changes in the last years. Second, it suggests a number of further improvements or changes. Thus, this report provides a key input for the development of an action plan to move toward full compliance with the Core Principles. The assessment of the effectiveness of banking supervision was based on a review of the legal framework.

The Commonwealth is working for the UK however if the organisation is to reach its potential and influence events, the Commonwealth Secretariat needs to "sharpen, strengthen and promote its diplomatic performance". Recently the Commonwealth has appeared less active and less publicly visible. The Government does not appear to have a clear and co-ordinated strategy for its relations with the Commonwealth. The moral authority of the Commonwealth has "too often been undermined by the repressive actions of member governments". The Committee is "disturbed to note the ineffectiveness of the mechanisms for upholding the Commonwealth's values", and expresses support for the Eminent Persons Group's proposal for a Commonwealth Charter. The Committee also says that it is not convinced that member states are making the most of the economic and trading opportunities offered by the Commonwealth. The report welcomes the fact that the Commonwealth continues to attract interest from potential new members, and the report says that there are advantages in greater diversity and an extended global reach for the Commonwealth however the application process should be rigorous. There is also concern at the continuing evidence of serious human rights abuses in Sri Lanka and the Committee urges the Prime Minister to state publicly his unwillingness to attend the Commonwealth Heads of Government Meeting in Colombo meeting unless he receives "convincing and independently-verified evidence of substantial and sustainable improvements in human and political rights in Sri Lanka."

The Government, in consultation with the Territories and other stakeholders, has developed a strategy of re-engagement: strengthening links between the Territories and the UK; strengthening governance; and enhancing support to the Territories. This White Paper sets out priorities for action in terms of defending the Territories; supporting successful economic development; preserving the Territories' rich environmental heritage and addressing the challenges of climate change; making government work better; community issues; and strengthening links with international and regional organisations or other countries. Taking this forward will require a partnership between the UK Government and Territory Governments. The UK wants to strengthen political engagement between Ministers in the UK and the Territories, particularly through the proposed Joint Ministerial Council, and is determined to live up to its responsibilities to the Territories