Innovation Island: Innovating In A Private Client World

Innovation isn't a word that historically has been associated with the private client world; that world probably evokes Dickensian images of the Chancery court, claret and the occasional outrage at a box of bad snuff. However, Guernsey has never been satisfied with that 'same old, same old'. The island has always questioned the status quo and sought to reinvent itself in new and exciting ways. Carey Olsen Partner Elaine Gray looks at some of the ways Guernsey is seeking to innovate by introducing new financial services legislation and embracing new technologies.

Guernsey's mixed legal framework (with its shared legal traditions with England and its historic Norman law roots) explain some of its openness to evolving its laws to suit new technologies and new concepts. Having been one of the early developers of financial services products, Guernsey has continued to offer new concepts and vehicles to serve the needs both private and corporate clients.