The Channel Islands' governments have dodged a constitutional conflict, after measures to impose new transparency laws were dropped from a major UK money-laundering bill today.
The bill passed today will mean British overseas territories are forced to publish a list of all company owners registered there. However, this will not apply to the Channel Islands.
Jersey and Guernsey did however come under fire from some MPs for not doing enough to combat corruption and may now face increased pressure to become more transparent.
Both Chief Ministers say they are pleased that their constitutional relationship with the UK has not been breached.