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Wednesday, 21 November 2012

"Richard Syvret Talks Straight On Finance"

Our finance obsession ‘harms Island’
 
Richard Syvret, a founding director of the Jersey Financial Services Commission
 
 
JERSEY has become so obsessed with the finance industry and the pursuit of wealth that it has forgotten what is right and fair, says a former senior finance industry leader.
 
Richard Syvret – who was a founding director of the Jersey Financial Services Commission, the sector regulator, and its first director general – said that the obsession was harming the Island and causing injustice.

He made the comments this week as the national media spotlight continued to focus on offshore jurisdictions and tax avoidance.

They also come after a number of potentially embarrassing stories featuring Jersey. The most recent was published by the Daily Telegraph and reported allegations that HSBC had opened offshore accounts in Jersey for serious criminals.

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