Island stock exchange fined £190000 but no individuals punished The Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended (“The Financial Services Commission Law”) , The Channel Islands Stock Exchange, LBG. 1. The Guernsey Financial Services Commission (the “Commission”) is established pursuant to the terms of the Financial Services Commission (Bailiwick of Guernsey) Law, […]

The Channel Islands Stock Exchange (CISX) has been fined £190,000 by the Guernsey Financial Services Commission (GFSC).The fine relates to “possible market manipulation” and “irregular trading” in Arch Cru Funds. The investments have been wound up but were listed on the exchange until 2009. In February, Peter Harwood, Guernsey’s Chief Minister and the CISX director […]