Chief Minister points to finance sector's track record
The Island's financial rules are in need of an update - but the chief minister says there's still a lot to be proud of.
A new report from MONEYVAL, the Council of Europe's international monitoring body, has identified several shortcomings in the Island's regime.
Officials pointed to a 'limited understanding' of risk, and a low number of prosecutions for money laundering offences.
Among the recommendations are delegating greater powers and resources to authorities, along with the formulation of a more effective criminal justice policy.
But Howard Quayle says it's important to remember the positives: