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STATEMENT TO BE MADE BY THE CHIEF MINISTER ON TUESDAY 10TH MAY 2016
Sir, This Thursday I will be attending the Anti-Corruption Summit being hosted by the UK at the invitation of the Prime Minister. The Summit is aimed at stepping up global action to expose, punish and drive out corruption in all walks of life. Jersey has a good record in this respect. Only in February of this year a Jersey Company owned by residents of Kenya was convicted in the Royal Court of laundering the proceeds of corruption, and a total of £3 million will be returned to Kenya.
There has been much public comment ahead of the Summit on the subject of the transparency and exchange of information on beneficial ownership. Jersey holds a leading position on transparency and exchange of beneficial ownership information which is critical for the successful fight against corruption, money laundering, terrorist financing, tax evasion and other financial crime. Jersey has considerable experience in ensuring that accurate and current beneficial ownership information is available to law enforcement and tax authorities and is willing to share this experience with international partners through technical assistance. Jersey's central register of ultimate beneficial ownership has been in place since 1989 and the regulation of trust and company service providers since 2000 and our considerable experience in this respect has been recognised internationally.
The UK Prime Minister has said that he wants all those at the summit to sign up to the first ever global declaration against corruption that would commit them to working together to tackle it, acknowledging that corruption undermines efforts to end poverty, promote prosperity and defeat terrorism and extremism. Jersey has for long pursued a policy of commitment to and compliance with international standards in the fight against all forms of financial crime and I intend that we should continue to do so.