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Jersey conference calls for international co-operation to fight crime

A conference organised by the Jersey Financial Services Commission has called for offshore and onshore financial centres to co-operate to ensure compliance with international standards and regulations.

The conference was attended by over 60 regulators, police, and Justice Department officials from 15 countries, who discussed increasing the resources given to fighting financial crime, and to share information.

Jersey Financial Services Commission chairman Colin Powell says: "Co-operation among international regulators is increasingly essential to fight financial crime. Clear responsibility for co-ordinating international initiatives is vital if conflicting standards and duplication of effort are to be avoided."


Edinburgh crosses into Malta

Edinburgh Fund Managers is to move into the Maltese investment market in ajoint venture with Maltese insurance provider GasanMamo Insurance Agency. The firm, which last week announced its £20m acquisition of PortfolioFund Managers, will provide the investment products for GasanMamo&#39s newlylaunched fund management arm, GasanMamo Financial Services. EFM&#39s managed growth portfolio will be the first […]

Product Matters

The launch of the Gartmore stable growth fund, which will investpredominantly in zero-dividend preference shares, is of note for a coupleof reasons. First, the new fund is being offered as the only rollover vehicle – otherthan cash – for investors in the Gartmore Scotland investment trust. Thisapplies whatever class of share the investor holds. There […]

Pru extra 2 per cent allocation offers

Prudential is giving an extra 2 per cent allocation on all investments made to Prudence Bond to celebrate its 10th anniversary. From July 16, both new investors and customers topping up their existing investment will have an additional 2 per cent added to their fund. The extra allocation offer closes on December 31, 2001.

RBS in talks with Virgin One

Royal Bank of Scotland is understood to be in talks with Sir Richard Branson to buy his remaining 25 per cent stake in Virgin One. RBS already owns 50 per cent of the lender but is keen to snap up Branson’s share and that of Australian giant AMP, which owns the other 25 per cent. […]

HMRC helping to remove artificial gains

An investment bond offers investors certain tax advantages, one of which is the ability to take partial surrenders from the investment. This facility allows the policyholder to withdraw amounts up to 5% of the amount invested each policy year on a tax deferred basis, without incurring any immediate tax liability. This tax deferred allowance can […]


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