Guernsey regulator issues Sark ‘company’ warning

The Guernsey Financial Services Commission (GFSC) has issued a warning about the appearance of an organisation, on the neighbouring Channel Island of Sark, where a website has appeared promoting a company registry.

Guernsey’s financial regulator said in a statement on its website that the entity – the first of its kind to appear on the tiny island – is named Sark Company Registry. The non-existent company has a website of the same name and is registered as a non-profit organisation, GFSC said.

The GFSC said the existence of this organisation had come to its attention and that it “wishes to emphasise that there is no company legislation in Sark”.

“Anyone considering using the services of this organisation is advised to seek legal advice on the standing of anything that is ‘registered’ with it. The commission has been working with the Sark authorities on this matter,” the GFSC statement added.

Sark is a car-free island of around 600 people that is legally a part of the Baliwick of Guernsey. It comprises Greater Sark and Little Sark — connected by a narrow isthmus — as well as Brecqhou, a smaller island owned and lived on by the Telegraph newspaper- and Ritz Hotel-owning, octogenarian billionaire twin Barclay brothers.

ABOUT THE AUTHOR
Gary Robinson
Deputy Editor, International Investment and Head of Video at Open Door Media Publishing. A fully qualified journalist and filmmaker with more than 20 years' financial services experience, both as journalist and originally as an IFA.

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