We’re hampered by far too many rules, says trust head
Wednesday 13th February 2013, 3:00PM GMT.
THE head of a major trust group says that the industry is bogged down in a quagmire of policies, codes and laws which make business both difficult and expensive.
Julie Coward, chief executive of the Basel Group, says that work needs to be done to reduce the burden on firms competing for overseas business.
She has warned that clients will leave Jersey if there continues to be constant questioning and intrusion into their private lives.
And she urged the Island’s financial regulator to encourage the adoption of an approach whereby the individual client is looked at more than the jurisdiction where they are from.