Channel Islands

Anyone who still has doubts that UK Overseas Territories such as the Cayman Islands, the British Virgin Islands and the Turks & Caicos Islands will be forced to co-operate with foreign tax investigations should read a paper published by the UK Treasury in February. Titled 'Exchange of Information and the Draft Directive on Taxation of Savings', it makes it clear that UK Overseas Territories are being pressured not only to co-operate with requests for information on tax matters but to take the initiative and report suspicious tax-related transactions.

Philip Mark Croshaw - Disqualified Directors - Isle of Man Financial Supervision Commission

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Michael Joseph O'Brien and others for narcotics trafficking and money laundering.

If offshore practitioners in UK Overseas Territories are looking for an indication as to what they can expect in the forthcoming Government white paper on their review, they could do a lot worse than study the recently published report by

Bermuda-based property dealer Bryan Gudgeon flew to Jersey this month to give evidence in the trial of Robert Young, who is accused of making false, misleading or deceptive statements that helped him make $6 million while he was losing his clients more than $10 million in five years.Gudgeon was Young's largest single investor, putting $10 million into his foreign exchange schemes. He was one of the few investors to emerge with a profit.

The Mexican government has amended the country's tax laws to try to curb the massive outflow of capital being lost to the world's tax havens.

Information Memorandum for Aristocrat Endeavor Fund Ltd.