Just as the summer's heat is giving way to autumn, so the
issues which enflamed the atmosphere in which the finance industry
operated at the start of this year are cooling, enabling Jersey to
focus on initiatives which will bolster our position as a world
class international finance centre (IFC).
A major focus in the first half of the year was addressing the
controversies surrounding the Panama Papers and the UK's vote
to leave the EU.
Panama Papers
The documents leaked from the Panamanian law firm Mossack
Fonseca generated an enormous amount of negative publicity for
so-called tax havens, but few of the Panama Papers relating
specifically to Jersey were of sufficient interest to make the
international headlines, and there was no evidence of modern-day
financial criminal activity taking place in Jersey. The public
image of international finance generically was certainly affected
by the revelations, and the global response to the Panama Papers
was to demand an
