‘Being out of step on law is losing the island business’

Thursday 17th June 2010, 2:30PM BST.

Peter Werner of the International Swaps and Derivatives Association addresses the seminar. (Picture by Tom Tardif, 0985089)

MEMBERS of the Guernsey International Legal Association have been told the island needs to look at its legal framework to increase business and deal with the complexities of an international economy.

Three expert speakers attended a seminar on ‘Financial Law Reform for Cross-Border Securities Transactions’ at the OGH on Monday. They discussed the developments in private international law for cross-border securities transactions including the Hague Securities Convention. They were joined by a panel of three local experts.

Derivatives and structured finance expert Edward Murray said governments had increased regulation and intervention in banks and financial institutions since the global financial crisis.