Jersey and Guernsey assess FATCA implications

In a statement, Jersey Finance said: “The FATCA provisions are in the form of guidance, which make it clear that the US has taken into account representations from foreign governments, of which Jersey was one, in seeking to minimise the reporting burden. “It is important to note that, not all financial institutions in Jersey will be engaging in activities that are affected by FATCA, or, if they are, some to only a rather limited extent. “The FATCA provisions will apply to all jurisdictions - they are not directed at centres such as Jersey alone - and so they should not adversely affe...