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Governor Alistair Harrison Issues Statement on Foot Report
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admin on 10/30/2009 15:25:00 Etc/GMT+1

The Foot Report provides a Review of British offshore financial centres,
including Anguilla, with recommendations that may have far reaching
implications.

(Old Ta, Anguilla - Gov. Alistair Harrison) - The Review by Michael Foot of the
UK overseas financial jurisdictions (the three Crown Dependencies, Jersey,
Guernsey and the Isle of Man, as well as six Overseas Territories including
Anguilla) was published on 29 October. The full text can be found on the website
of HM Treasury at http://www.hm-treasury.gov.uk/. The report is lengthy, but the
Overview at the beginning summarises the recommendations.
The review sets the context clearly - a worldwide economic downturn which has
heightened international interest in the offshore jurisdictions. Many of the
recommendations in the report, on areas such as financial regulation, tax policy
and financial crime, apply to Anguilla and the other Caribbean OTs. Some of them
are for me to consider, with my constitutional responsibility for the regulation
of international financial activity, some for the Government of Anguilla, some
for the British Government. Many of them would affect the Financial Services
Commission, the RAPF, and the financial sector more generally. I hope that
everyone connected with the financial sector in Anguilla will read the review
carefully and reflect on it. I am doing so, and hope to set out my thoughts on
the way ahead in my speech to the FSC's annual meeting with the Financial
Services industry on 20 November.