The Guernsey Financial Services Commission has published revised guidance on the way that private trust companies are controlled and administered by licensed fiduciaries.

The guidance, welcomed by the Guernsey finance industry, includes outcome-based moves revising requirements for directorships.

The move is seen as a key component of Guernsey’s strategy to enhance its services and offering in the family office and private wealth space.

Paul Hodgson, chairman of the Guernsey Association of Trustees (GAT), said: “This updated guidance from the GFSC will be welcomed for the clarity it provides to the Guernse...