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Beneficial ownership: Guernsey and Jersey both committed to G5 initiative

On 15 July, Guernsey announced that it had committed to the emerging international initiative on beneficial ownership that was started by the G5 countries (France, Germany, Italy, Spain, UK). The initiative aims to develop and implement exchange of beneficial ownership information.

Jersey announced its commitment to the G5 initiative in May. Guernsey’s announcement was delayed because of the Guernsey parliamentary elections.

Guernsey and Jersey have also both signed an Exchange of Notes with the UK Government in respect of the mutual sharing of beneficial ownership information.