Originally published in PE Manager, November
2012
Fiona Le Poidevin, Chief Executive of Guernsey Finance,
explores how the dark days of the financial crisis have given rise
to a new focus on improved standard.
The repercussions of the global economic crisis are continuing
to be felt around the world and have brought with them an increased
focus on regulation, tax transparency and corporate governance in
relation to financial services. The funds industry has been at the
forefront of these actions, which should come as no surprise when
factoring in the high-profile fallout from scandals such as Madoff
– an example of some of the worst practices within the
sector, but one that was by no means alone. These damaging episodes
brought about a demand from investors and promoters for quality
service provision, strong corporate governance and robust
regulation.
