>Elwyn Jenkins wrote:
>
>> British Virgin Islands ... is a British Dependency. It has a
>>constitution and democratically elected parliament. The BVI is politically
and
>>economically sound and the Government has virtual autonomy in its
decision-making.
>In the past British Dependencies have been allowed "virtual autonomy".
>But the ultimate authority still is the Crown. It is inconvenient for the
>British government to have to reverse local decisions but it can do so
whenever
>it wants to go to the trouble. It has declared that unless financial
>privacy is eliminated locally in the next couple of years it will do so
from
>England. The only option BVI has to escape this fate is to declare
independence.
>This is unlikely.
>
>CCS
This is absolutely incorrect regarding the "abolition of financial privacy".
The EU Directive is not focused on the abolition of financial privacy. It is
focussed on financial anonymity.
Here in the BVI we already practice the very strict practice of performing
due diligence on every one of our customers. It is not possibly to do
business with Standard Reserve anonymously, or any banking or financial or
fiduciary instituion in the BVI, as we are already applying the "Anti-Money
Laudering Code of Practice, 1999".
However, PRIVACY is a major practice that is a very strongly held principle
of banking, fiduciary and insurance responsibility. About a half of the BVI
annual income is derived from maintaining private records and handling
confidential business with clients worldwide and nothing is being done to
jeopardize this.
The code of practice requires that those working in the financial industry
should report suspected criminal activity. BUT in return, any other records
are given utmost privacy and confidentiality and governments have no right
to know information contained in banking and other financial records.
The only criminal activity so reported is suspected money laundering. Tax
evasion is not a criminal activity! So if you are doing nothing wrong, and
simply maintaining an offshore account for privacy and confidential reasons,
we believe that the BVI is the place to be.
In completing due diligence on our customers we know our customers. We will
defend your right to privacy and confidentiality because we know you and we
know that it is unlikely you are doing anything criminal. We will be the
first one to ask that you close your account with us if we suspect even just
slightly that you are engaging in criminal activity. THEN, in knowing our
customers, and being able to defend our position that in knowling our
customers we know they are not engaging in criminal activity, we will not
part, in any circumstance, with private and confidential information nor are
we required by law to do so. QUITE THE OPPOSITE, law requires that privacy
and confidentiality should be maintained while criminal activity is not
suspected.
You can be assured of PRIVACY and CONFIDENTIALITY with Standard Reserve, but
do not expect us to protect you if your are involved in criminal activity.
AND WE HAVE THE BVI LAW AND PRACTICES ON OUR SIDE TO DO THAT AND THE BRITISH
GOVERNMENT WILL NOT REQUIRE THIS POSITION TO BE ANY DIFFERENT.
Dr Elwyn Jenkins
Standard Reserve
Standard Transactions (BVI) Limited
++
---
You are currently subscribed to e-gold-list as: archive@jab.org
To unsubscribe send a blank email to [EMAIL PROTECTED]
