JFSC issue statement RE: Investigation into Lumiere Wealth Limited

JFSC issue Statement re investigation into Lumiere Wealth Limited

On the 11th August 2016 the JFSC issue Statement re investigation into Lumiere Wealth Limited – in the release John Harris, Director General of the Jersey Financial Services Commission said

“The Jersey Financial Services Commission (JFSC) is aware of the recent action taken by the Guernsey Financial Services Commission (GFSC) in successfully applying to place Providence Investment Management International Limited and Providence Investment Funds PCC Limited into administration.

Providence Investment Funds PCC Limited had been recommended to clients by Lumiere Wealth Limited, a Jersey regulated independent financial adviser which forms part of the Providence Group.

The JFSC has been working closely with the GFSC on this case following the launch of the JFSC’s own investigation into the sale of the Providence Investment Funds PCC to Jersey residents.

As this is an on-going investigation, no further statements will nor can be made at this stage.”