In Guernsey, the abolition of the Sark Lark in 1999 spelled a leap forward for governance. The Sark Lark arose due to a twist that saw tax liability removed if director’s meetings were held outside of Jersey and Guernsey. As a consequence, thousands of Guernsey and Jersey companies appointed Sark resident directors, each a director of hundreds of companies, if not more. This practice came under criticism as Sark had no company or financial services law but, more importantly, because of the ‘rubber-stamping’ approach that was developed by the Sark resident directors. In the intervening years since 1999, both Guernsey and Jersey have adapted their financial services and corporate laws, introducing robust measures to engender good governance practice. In addition, the introduction of ‘economic substance regulations’ will attempt to further improve practices In this regard.