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Compliance and Regulation

To a large extent, the offshore world has been under severe pressure from various organisations - including the EU, UK Government and the OECD - to become much more open with the rest of the world and to demonstrate that the business is well regulated and not subject to money laundering or other criminal activity. If anything, this situation was exacerbated by the events of September 11th 2001.

As a consequence, like a number of other reputable jurisdictions, Guernsey took a lead and introduced legislation to control and regulate business activity.

The Guernsey Fiduciary Law was introduced in April 2000 and requires any Fiduciary Services Company to be fully licensed by the Guernsey Financial Services Commission, the regulatory body responsible for the professional supervision of the sector. This statutory framework for fiduciary regulation ensures that the island is at the forefront in the fight against criminal and terrorist activity and at the same time should give clients the comfort that they are dealing with a reputable and responsible jurisdiction. This is evidently very important to clients and, in the present environment, it can only be a step in the right direction.

Bachmann Trust Company Limited is a licensed Fiduciary Business and is fully compliant with the regulations laid down by the Guernsey Financial Services Commission.