Introduction In Nolan v. Minerva Trust & Others [2014] JRC 078A, the Royal Court delivered a salutary reminder of the high standards by which professional service providers in Jersey will be judged, and the need for scrutiny, careful reflection and demonstrable independence when taking investment decisions.  It also underlined the need to be robust, whatever […]

Were the trustees dishonest? 1. The key issue was whether PTCL’s behaviour amounted to dishonest assistance in the breaches of trust. In all cases, except two of the Quistclose trusts, the Royal Court held that it did. 2. The essence of the criticism was that PTCL had failed to bring “independent judgment to bear as […]

In Nolan v. Minerva Trust & Others [2014] JRC 078A, the Royal Court delivered a salutary reminder of the high standards by which professional service providers in Jersey will be judged, and the need for scrutiny, careful reflection and demonstrable independence when taking investment decisions. It also underlined the need to be robust, whatever pressure […]

Breaches of the various Codes of Practice issued by the JFSC can clearly have serious implications for a regulated business and its employees. With this in mind as we move closer to the introduction of civil penalties, financial practitioners should consider examples of good and poor practice in the conduct of financial services business. Two […]