UK Overseas Territories Agree Priorities In London

The British Overseas Territories have published a joint statement following their recent meeting in London to discuss financial services and regulation.

The meeting was attended by representatives of Anguilla, Bermuda, the British Virgin Islands, the Cayman Islands, the Falkland Islands, Gibraltar, Montserrat, and the Turks and Caicos Islands.

The agenda included discussions on: global standards of financial regulation, accountability, and transparency; economic diversification and development; and good governance and international affairs.

It was agreed that, to build sustainable economies, the territories should continue to work towards ensuring the stability of the banking sector and capitalize on changing global financial services trends. They said they would seek new innovative solutions while ensuring robust regulation.

They also agreed to jointly request that the UK reinforce the message that the territories have adopted best practices that are in line with international standards, including in the area of tax transparency.