News

Richard David Arthur pleaded guilty to obtaining and using for his benefit the total sum of £2,637,401.  His three victims, Mr Humberstone, the French resident and the Jersey resident, were all elderly.  They had all reposed trust in Arthur, and he abused that trust for his benefit and personal gain. On 25 April 2018, Richard […]

By way of background “Thematic examinations” allows the JFSC to better understand particular thematic risks that cut across a range of firms in a specific sector or affect a sector as a whole.  In conductiong these thematic reviews the JFSC, address thematic risks using a range of tools including questionnaires, on-site visits and guidance. For […]

A DISGRACED financial adviser has been jailed for seven years for charges related to selling fraudulent investments. Christopher Paul Byrne was initially due to be sentenced earlier this month but the hearing was abruptly adjourned when the 50-year-old’s advocate, Olaf Blakeley, said his client was helping Guernsey authorities with their investigations into a company that […]

THE finances of Jersey Mutual Insurance Society are being investigated by the police after ‘potential fraudulent activity’ spanning a number of years came to light. On Thursday, the organisation, which has served the Island for just under 150 years, sent a letter to all of its members informing them of the situation and confirmed that […]

JFSC approach for collecting 2018’s data, Phase III of our Supervisory Data Collection Exercise. Key facts This exercise will begin promptly in the New Year on 14 January 2019. The JFSC will be asking for the same data for 2018 as we previously collected for Phase 1 and Phase II. This is to determine whether […]

Good morning, the JFSC have issued their findings on “Client Assets”, please see summary below. WHAT IS THIS ALL ABOUT? As communicated in November 2017, the JFSC set out in high level terms its planned thematic examination programme for the first half of 2018, to be undertaken by the JFSC’s Supervision Examination Unit (SEU). (SEE […]

In May the UK passed the Sanctions and Anti-Money Laundering Act 2018. Now, in light of the relative certainty as to how the UK sanctions regime will work post-Brexit, a Projet de Loi has been laid before the States of Guernsey to Brexit-proof local sanctions legislation and to address designation of a person under the […]

THE government did not comply with the law when it attempted to withhold information on chief executive Charlie Parker’s employment contract, the information commissioner has said. In a decision announced yesterday afternoon, the information commissioner, Dr Jay Fedorak, said that the Chief Minister’s Department had made an unauthorised attempt to stop information on Mr Parker’s […]