Complaint numbers for April – June 2019 have been published on the website of the Channel Islands Financial Ombudsman (CIFO). Brief headlines are given here, for further information please see the report. In the second quarter of 2019, CIFO received 106 complaints and opened 27 new case files – these are complaints that are within […]

Legal basis The Financial Services Ombudsman (Jersey) Law 2014 and the Financial Services Ombudsman (Bailiwick of Guernsey) Law 2014 each provide for a Financial Ombudsman, independent of the States. The full powers came into effect on 16 November 2015. Channel Islands Financial Ombudsman (CIFO) The Channel Islands Financial Ombudsman (CIFO) is a joint operation of […]

The Channel Islands Financial Ombudsman (“CIFO”), or to give it its full title, the Office of the Financial Services Ombudsman will open for business on 16 November 2015. Below is a brief overview on the WHAT, WHO, WHERE, WHEN, HOWS of the CIFO and how it may affect Channel Island financial services businesses. WHAT IS […]

The Channel Islands Financial Ombudsman has published Consultation Paper 3 on a model complaint-handling procedure for financial services providers. This can be found at http://bit.ly/1MhTnxY

A Sark couple have both been jailed for money laundering. In June Michael Doyle, 47, and Belinda Lanyon, 54, were also found guilty of carrying out regulated activities within the Bailiwick without a licence. The pair had already pleaded guilty to carrying out an act intended to pervert the course of public justice. In Guernsey’s […]

The 16th November 2015 has been announced as the opening date of the Channel Islands Financial Ombudsman’s (“CIFO”) office, subject to States’ (parliamentary) approval. Information for the general public and potential complainants is now available on www.ci-fo.org The site has specific information concerning the ability of people with unresolved complaints to give CIFO advance notice […]

Channel Island Businesses still have a lot to consider for the next stages of the Foreign Account Tax Compliance Act (FATCA) implementation, delegates heard at a recent breakfast seminar hosted by EY. The event, led by Wendy Martin, EY’s Tax Executive Director, highlighted: The recent updates made to the FATCA guidance notes and the imminent […]

Property in England and Wales worth £122bn or more is held through companies in offshore tax jurisdictions where ownership is tricky to establish, according to Land Registry data analysed by the Financial Times. The detailed report showed that around two-thirds of the 91,248 foreign-company owned properties were held through the Channel Islands and British Virgin […]