The JFSC have issued a further Public Statement against a Principal Person of Horizon Trustees (Jersey) Limited (in liquidation) (“HTJL”)
The Commission has previously concluded that HTJL breached all seven principles of the Codes of Practice for Trust Company Business, including failing to conduct business with integrity, failing to ensure conflicts of interest were managed and failing to act in the best interests of customers.
Mrs Sarah Jane Roberts a Principal Person of Horizon Trustees (Jersey) Limited (in liquidation) (“HTJL”), pursuant to her shareholding, and as a director for some of the period in question, Mrs Roberts bears some responsibility for these failings and shares responsibility for the following:
- a confused and ineffective corporate governance structure;
- a failure to oversee and control the business of HTJL through the implementation and monitoring of robust systems and controls;
- a failure to realise a Horizon services company was conducting unauthorised financial services business;
- a lack of transparency over fees levied to customers; and
- a failure to manage risk and to identify and address issues facing HTJL.
According to the JFSC Mrs Roberts’s conduct lacked integrity and competence.
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