Consultation Paper No. 2 2010 – Register Of Recognized Auditors: Proposed Fees – Proposed Fees under part 16 of the Companies (Jersey) Law 1991 – issued 5 February 2010. The Companies (Amendment No. 4) (Jersey) Regulations 2009 (the “Regulations”)2 were made by the States on 3 December 2009. The primary reason for the Regulations is […]

The following extract is published in the Jersey annual Law and Accountancy Review. This publication taps into the expertise of specialists in both sectors to look at recent developments and to examine the continuing relationship between finance and the legal and accounting firms that support its increasingly complex activities. http://www.thisisjersey.com/jersey-evening-post/supplements/law-and-accountancy-review/ As the Jersey Financial Services […]

Hedge fund managers charged with more crimes – Galleon Group founder Raj Rajaratnam and his alleged partner in crime, ex-New Castle Partners executive Danielle Chiesi, were slapped with additional criminal charges Tuesday (Feb 9), as prosecutors upped their estimate of insider trading profits in the case from $20 million to $49 million. The new charges […]

The Bribery Bill – On 19 November 2009 the Bribery Bill was introduced into Parliament, receiving its first reading in the House of Lords. The Bill, which seeks to modernise and consolidate the law on bribery and corruption in the UK, completed its journey through the House of Lords on 8 February 2010. The House […]

Shares of Infinex Ventures Inc., a U.S.-based mining company, were manipulated by Italians working for an organized-crime family, netting them 15 million euros ($21 million), Milan’s financial police said. The stock was manipulated in U.S. trading from 2004 to 2008, according to an e-mail distributed today by the financial police, which conducted the investigation. The […]

HSBC customer claims for anti money-laundering delay – Banks could in future have to compensate customers whose transactions are delayed by anti money-laundering procedures that are poorly applied, The Times has reported. In the case of Shah and another v HSBC Private Bank (UK) Ltd, the Court of Appeal has ruled that Jayesh Shah and […]

HSBC accused of aiding ‘unusual’ Angolan $50m money transfer – The Bank insists it complies with the law after US senate report says transaction should not have been allowed. HSBC has been accused by a leading US senator of helping to facilitate the transfer of $50m (£31m) to one of its Bahamian subsidiaries into a […]

Terrorism Financing Linked to Online Gambling – At the recent “Cybercrime in Betting and Gaming” conference in London it was revealed that security services are conducting 23 current investigations in which it is possible that terrorist organizations have used online gambling channels to transfer funds. Apparently these leads have come from the conviction of one […]