1 Background 1.1 This guidance note is in response to comments made by the Royal Court in the judgment handed down in Francis v JFSC on 4 December 2017 [2017] JRC203A following his unsuccessful appeal against the decision of the Board of Commissioners. 2 Integrity 2.1  From a regulatory perspective, ensuring regulated entities and individuals […]

The founder and managing director of defunct Jersey-based IFA firm Lumiere Wealth, Christopher Byrne, has appeared in court for the fourth time and been granted bail. Byrne, aged 48, faces four charges relating to alleged actions he took during his dealings with clients and regulators. Lumiere Wealth was ordered to be wound up by the […]

An area that many Jersey firms forget about particularly those with overseas ownership is the change Of Control Obligations under The Financial Services (Jersey) Law 1998.  This briefing is of interest to entities carrying on financial service business for the purposes of the Financial Services (Jersey) Law 1998, as amended (the “FSJL”) and highlights a […]

This briefing is of interest to entities carrying on financial service business for the purposes of the Financial Services (Jersey) Law 1998, as amended (the “FSJL”) and highlights a common pitfall among registered persons (including licensed investment advisers, general partners, managers, trustees and administrators) planning a change of control. Background The Jersey Financial Services Commission […]

THE ACTORS Mr Antony Kurt Bryans; Mr Michael John Lezala; Mrs Michelle Clark; and Mr Pierre Humphrey Stonborough (together, the “Principals”) The Principals were, at all times, directors  of Allied Trust Company Limited and its affiliated members, namely: Allied Fiduciary Services Limited; Allied Investments Limited; and Amistoso International Corporation (together, “Allied”) 1              Introduction The Jersey […]

The Jersey Financial Services Commission (the “Commission”) issues this public statement under Article 25 of the Financial Services Law. This action supports the Commission’s objectives of reducing the risk to the public of financial loss and protecting and enhancing the reputation and integrity of Jersey in Commercial and financial matters. This public statement serves to […]

The Jersey Financial Services Commission (the “Commission”) issues this public statement under Article 25(a) of the FS(J)L with respect to directions issued to Mr McKimmon under Article 23 of the FS(J)L. The Commission’s actions support its objectives of reducing the risk to the public of financial loss and protecting and enhancing the reputation and integrity […]