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 […]

SPEED READ On due diligence the JFSC are specifically clear on the view that centrally important part of proper due diligence is that written records be created to document the steps taken more generally the JFSC are of the view that Keeping records of operational behaviour is essential and the JFSCs views is that 1. […]

The Jersey Financial Services Commission (JFSC) issues this Press Statement in respect of the recent Royal Court Judgment dated 11 May 2016, which made a procedural ruling following proceedings in November 2015 involving SWM Limited (SWM). Whilst respecting the decision of the Royal Court, the JFSC wishes to clarify its stance in the context of […]

The following statement was issued by Blakely law: The Royal Court has issued an extremely critical judgment of the Financial Services Commission in which it says the Regulator acted unfairly. Recently we gave details of a judgment concerning a dispute between an IFA company, SWM Limited, and the JFSC.  At that time the court was […]

The financial regulator has been ordered to pay the court costs of a financial services firm which it claims gave unsuitable advice to investors. The Jersey Financial Services Commission will have to pay the legal fees of SWM Synergy as well as their own after the Royal Court found in favour of the investment firm, […]

Royal Court observations for regulated businesses Leon Hurd and Ben Vickers report on the Royal Court’s decision in SWM Ltd-v-Jersey Financial Services Commission and AG [2016] JRC 014 SWM Limited (SWM), a regulated financial services company, sought a declaration from the Royal Court that certain payments it wished to make would be “in the ordinary […]