Tamara Menteshvili

THE recent Channel Islands Stock Exchange international business summit held in Guernsey highlighted some of the concerns and opportunities relevant to the finance industries of the Crown Dependencies.

The European Commission’s proposal for a directive on alternative fund managers came in for heavy criticism.

David Bennett, chief executive of the Association of Private Client Investment Managers and English barrister Alastair Sutton picked holes in the directive, citing its rushed approach to alleged problems and its lack of foresight in relation to possible future developments as weaknesses.

However, the summit heard that the CI Stock Exchange is better placed than ever before to expand and prosper.

Its chief executive, Tamara Menteshvilli, said: ‘Our competitive position has never been better.
‘We have achieved more than a level playing field, an incredibly good track record that I am proud of, and we have a good multinational team and we reach out to all four corners of the world.

‘To say that this success was based on luck would be out of order. Members have made the CISX what it is.’