Finance: Keep up to speed, says UK

Monday 20th April 2009, 3:01PM BST.

JERSEY will have to keep improving financial services regulation and transparency to stay on the right side of the international community, according to the Island’s new link with the UK government.

Lord Bach, the Parliamentary Under-Secretary of State for Justice with responsibility for the Crown Dependencies, says that Jersey can take pride in the way it is viewed by the G20 nations.

But he says that the spotlight and scrutiny on offshore finance means that the Island has to continue tightening regulation and increasing transparency.

In a visit to the Island on Friday, Lord Bach said: ‘What Jersey, and everyone else, has to make sure is that the new spirit of transparency is taken forward in what are difficult economic times for everybody.’

• Picture: Lord Bach. Picture by Rob Currie (00670550)

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