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[Narrator] Light-touch regulation was one way
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The Spider's Web: Britain's Second Empire

Light-touchregulation was one way of attracting business to London

[Narrator] Light-touch
regulation was one way of attracting business to London

Full Transcript

00:00:01.000 --> 00:00:02.092
- [Narrator] Light-touch regulation was one way
00:00:02.092 --> 00:00:05.996
of attracting business to London.
Duration
6 seconds
Views
14
Timestamp in Movie
00:16:21
Uploaded
Oct 30, 2025
Genres
documentary
Production
N/A

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Movie Summary

How Britain transformed from an imperial power to a financial power.
From the 1960s onwards, City of London institutions began - The Spider's Web: Britain's Second Empire 00:10
From the 1960s onwards, City of London institutions began
Their aim was to create offshore centers - The Spider's Web: Britain's Second Empire 00:11
Their aim was to create offshore centers
- Swiss banking secrecy is the most famous, - The Spider's Web: Britain's Second Empire 00:05
- Swiss banking secrecy is the most famous,
You put your money in a Swiss bank, - The Spider's Web: Britain's Second Empire 00:06
You put your money in a Swiss bank,
That's one kind of secrecy, but another kind of secrecy, - The Spider's Web: Britain's Second Empire 00:08
That's one kind of secrecy, but another kind of secrecy...
And the trust is a very slippery, complicated - The Spider's Web: Britain's Second Empire 00:08
And the trust is a very slippery, complicated
Trusts emerged, the legend has it, from the time - The Spider's Web: Britain's Second Empire 00:13
Trusts emerged, the legend has it, from the time
What trusts do, ultimately, is they play - The Spider's Web: Britain's Second Empire 00:06
What trusts do, ultimately, is they play
So the settlor, the knight in this case, - The Spider's Web: Britain's Second Empire 00:12
So the settlor, the knight in this case,
Nobody's gonna find anything - The Spider's Web: Britain's Second Empire 00:06
Nobody's gonna find anything
- [Narrator] In Britain's offshore jurisdictions, - The Spider's Web: Britain's Second Empire 00:08
- [Narrator] In Britain's offshore jurisdictions,
Anyone can set up a trust and act as a trustee. - The Spider's Web: Britain's Second Empire 00:06
Anyone can set up a trust and act as a trustee.
There are no bodies to certify that a trust has been set up. - The Spider's Web: Britain's Second Empire 00:07
There are no bodies to certify that a trust has been set up.
- The only persons who know about the creation - The Spider's Web: Britain's Second Empire 00:08
- The only persons who know about the creation
There is no financial reporting obligation of trusts. - The Spider's Web: Britain's Second Empire 00:06
There is no financial reporting obligation of trusts.
They're not required to put annual statements - The Spider's Web: Britain's Second Empire 00:07
They're not required to put annual statements
So actually trusts are, to all intents and purposes, - The Spider's Web: Britain's Second Empire 00:08
So actually trusts are, to all intents and purposes,
- [Narrator] Economist John Christensen - The Spider's Web: Britain's Second Empire 00:09
- [Narrator] Economist John Christensen
We're talking now about trillions, - The Spider's Web: Britain's Second Empire 00:10
We're talking now about trillions,
For tax purposes and for other purposes, - The Spider's Web: Britain's Second Empire 00:06
For tax purposes and for other purposes,