The Channel Island Financial Ombudsman (CIFO) has recently been considering some complex issues involving pension-related complaints against Channel Islands pension providers where the complainant cites unacceptable delays in transferring a pension to a new pension provider. The complainant is usually the pension plan beneficiary and these, at least in part, relate to pensions in the […]
Read MoreSPOT THE SIGNS OF HUMAN TRAFFICKING (even in Jersey)- Awareness can save lives.
Human trafficking is happening all around us – even in Jersey. Victims are often hidden away, but you may encounter individuals or situations of concern. Knowing how to ‘spot the signs’ could save lives. To assist you in flagging issues the indicators in this link should be considered and, if you have any suspicions about human […]
Read MoreShould Jersey ask the same questions [as the UK] about its AML and sanction regimes after the EN+ Group issue in 2018?
On the Nov 8, 2018 the Jersey Evening Post (https://jerseyeveningpost.com/news/2018/11/08/trump-sanctions-prompt-exit-of-russian-owned-businesses/) reported a story about Oleg Deripaska, a Russian oligarch and his company SANCTIONS imposed by the Trump administration have caused two Jersey-based businesses owned by one of Russia’s richest men to press ahead with plans to leave the Island. It went on to say “According […]
Read MoreJersey Royal Court considers behaviour when dealing with complaints – lessons to be learned – act (and be seen to act) objectively and impartially
SPEED READ The courts considered the arguments from the JFSC concerning integrity of an investment adviser (SWM) when they dealt with two complaints. In complaint No 1 SWM refused to re-open a compliant after being directed to do so by a 3rd party – the court stated it is not unreasonable on the part of […]
Read MoreEmail addresses have been stolen from Community Savings Jersey and used in a phishing scam.
The charity has confirmed some of its email contacts have been ‘illegally accessed’ and that the phishing attempt has been reported to the Office of the Information Commissioner. Last Thursday afternoon, the message, titled ‘Document’, was sent to a number of email addresses previously in contact with Community Savings. The phishing email was only been sent to a […]
Read MoreJersey’s Attorney General wins UK Supreme Court argument on EU free movement of capital
In a landmark constitutional decision for Jersey, the UK Supreme Court has accepted the arguments of the Attorney General for Jersey as to whether or not the European Union right of free movement of capital applies to movements between the UK and Jersey. The case was heard by the Supreme Court because HMRC appealed the […]
Read MoreJersey trust named in non disclosed [DOTAS] scheme during HMRC victory against tax avoidance promoters
The successor to the infamous Jimmy Carr ‘K2’ scheme has just surfaced following a decision by the First Tier Tribunal which found that a contractor loan scheme should have been notified under the Disclosure of Tax Avoidance Schemes (DOTAS) regulations. With striking similarities in the way it was marketed and operated to K2 the scheme, […]
Read MoreWas a Jersey broker involved in “SECRET COMMISSIONS”?
COURT OF APPEAL GIVES GUIDANCE ON SCOPE OF FIDUCIARY DUTY IN “SECRET COMMISSIONS” CASE The Court of Appeal has found that there was NO BREACH OF FIDUCIARY DUTY where an introducing broker failed to inform its client investors of the amount of commission it received from the financial institution to which it had introduced them: […]
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