Claridges Trustees Limited
Claridges Trust Company (Guernsey) Limited
First Nominees Limited
Second Nominees Limited
(all incorporated in Guernsey and together referred to as “Claridges”)
On 14 December 2007 the Guernsey Financial Services Commission gave notice to Claridges of the refusal of Claridges’ application for a full fiduciary licence under the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000 ("the Fiduciary Law").
Therefore, subject to any appeal against this decision, Claridges’ transitional authorisation under the Fiduciary Law will cease with effect from the end of 12 January 2008 and none of the companies within Claridges will be authorised to carry on regulated activities, as defined in section 2 of the Fiduciary Law, in or from within the Bailiwick of Guernsey by way of business.
In addition, as the companies are incorporated in Guernsey, they will not have the necessary authorisation under the Fiduciary Law to carry on regulated activities by way of business in any jurisdiction.