A delegation from Guernsey and Jersey recently visited Brussels to celebrate 15 years of successful relationships with Europe, thanks to the Channel Islands Brussels Office (CIBO).
Guernsey Finance Deputy Chief Executive Barnaby Molloy was part of the delegation in Brussels for CIBO’s annual reception, where Guernsey’s position as an important partner to Europe was reaffirmed.
The meeting forms part of the regular programme of engagement with the EU. In attendance were policy makers, representational offices, senior representatives of European members, and industry associations.
Alongside government representatives for both islands and Jersey Finance’s Deputy Chief Executive, Barnaby discussed Guernsey’s expertise, political and economic stability, and sophisticated legal infrastructure.
Barnaby said: “It was a privilege to speak alongside Amy Bryant as part of the anniversary celebrations of the Channel Islands Brussels Office - a testament to the strength and significance of our relationship with the European Union and our commitment to international cooperation.
“This was a fantastic and well-received opportunity to reflect on and highlight the vital partnership between the Channel Islands and the EU, where reciprocal capital flows, job creation, and bespoke financial products and services continue to play a key role.
“Few financial centres can claim the same level of expertise, experience and environment as Guernsey and Jersey. This is something that enables us to develop niche areas of expertise that add value to businesses in the EU.
“I would like to say a huge thank you to Ministers Jonathan Le Tocq and Ian Gorst for hosting, and to Rebecca Millar and her entire team for their exceptional work in making this event such a success. It was great to see so many valued partners come together to mark this milestone and reaffirm the Channel Islands’ expertise on the European stage.
“We will continue to build on this important partnership alongside our Jersey counterparts.”
Collectively, Jersey and Guernsey have almost £800bn NAV combined across the investment funds sector, catering for closed and open-ended funds, with specialisms in private equity, infrastructure and sustainability. The Islands are regarded internationally as investment funds domiciles that are proportionately and pragmatically regulated.
Both islands are also firmly committed to global tax transparency, as early adopters of the OECD’s Pillar 1 and Pillar 2 frameworks, as well as the Common Reporting Standard (CRS). Most recently, our high standards were reaffirmed by MONEYVAL, reinforcing our reputation as responsible and well-regulated financial centres.
The island’s regulatory excellence is consistently recognised by leading global bodies, including the World Bank, IMF, and OECD.
