h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

Entry: Finance in Jersey, Channel Islands 1946-2003 - A2152306
Author: Kermit - U188848

History of finance industry in Jersey, Channel Islands

I read various business media in the US, and some of your terms appear to be either Jersey or UK specific, or they are too abstruse for me. I think your article could be improved if you include definitions or short explanations for: 'nominee-shareholding', 'regulations of undertakings', and 'Jersey Tax Exempt Company'.

The Jersey Financial Services Commission-is this a UK Government agency and thus a brief from your Parliament? Why should the States of Jersey mind this? Is it known by them that their Duke (the Queen) agrees?

'from 2000 further increases of regulation'-> by whom, the UK or the States of Jersey?

I am intrigued by the mechanism by which the EU thinks it might affect Jersey through the UK. I thought that the Crown Dependencies were only listed as part of the EU agreement in terms of defense. Shouldn't the EU be talking to the governments of Jersey, Guernsey, Alderney, Sark etc.?

This is an interestingly written entry, I have just one question, is Jersey the only tax haven in the channel Islands? I thought that the other channel islands were also tax havens?

The Isle of Man certainly is one.

The issue of language concerns me, as someone who has worked in the UK finanical industry for 12 months, I could follow *most* of it. I worked in a share registerars, so at least knew what nominee company was, for instance.

Could you just change the focus of the entry to the effect that the "tax haven" status has had on the islands?

Oh dear that last sentance sounded like an order, I just thought that changing the focus might be a useful way of making the entry more accessable without having to go into great detail as to what the finaical terms meaned.

This is a well written piece. I didn't find it excessively complex although perhaps the odd footnote here and there might not hurt.

I think the final sentence on the effects of international action to limit unfair tax competition is probably right. Essentially it's difficult to see the economic utility of these kind of offshore tax havens, so there is bound to be pressure to crack down.

sprout

I think we're all agreed on the fact this is a good, well-written, piece but I think footnotes might be invaluable. I'd also be interested to know the answer to Z's query about other islands having 'tax haven' status.

Your Guide Entry has just been picked from Peer Review by one of our Scouts, and is now heading off into the Editorial Process, which ends with publication in the Edited Guide. We've therefore moved this Review Conversation out of Peer Review and to the entry itself.

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Hey Kermit,

I've been given your great entry to subedit, and the nearly finished version is available at A2334115. If you spot something that needs attention, please drop me a note.

SchrEck Inc.