SMP Partners granted Jersey licence
SMP Partners, the Isle of Man-based international corporate and trust service provider, has been granted a licence by the Jersey Financial Services Commission (JFSC) and opened an office on the island.
Jersey
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Jersey regulator launches campaign against mis-selling
The Jersey Financial Services Commission (JFSC) has teamed up with the Personal Finance Society (PFS) to launch a public awareness campaign on investment mis-selling in response to increasing numbers of local investors losing their savings through high-risk investments.
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‘Highly unlikely’ Providence investors will get money back
Investors in the doomed Guernsey-based Providence Investment Funds have been told it is “highly unlikely” they will receive any money back, as a campaign group is set up on their behalf to target an FCA-regulated firm it claims is behind the funds’ promotion.
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PEOPLE MOVES: Deutsche Bank, RLAM, J. Safra Sarasin
After Deutsche Bank’s head of anti-financial crime stepped down just six months into the job, the German bank has named his replacement. RLAM has created a global equity team by poaching three staff from Waverton IM, while J. Safra Sarasin has a new managing director for client advisory in Hong Kong.
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Portugal strikes Jersey and Isle of Man off blacklist
Portugal’s government has removed Jersey, Isle of Man and Uruguay from its latest blacklist of jurisdictions.
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Zero corporation tax does not ‘make’ a tax haven: EU ministers
Jurisdictions that offer zero rates of corporation tax, such as Jersey and Guernsey, may not automatically be considered tax havens, EU finance ministers have said.
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UK fights to keep crown dependencies off EU tax haven blacklist
The UK government is fighting to keep Guernsey, Jersey and other British overseas territories off the EU’s planned blacklist of offshore tax havens.
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Further charges levied against Lumiere Wealth’s Chris Byrne
The founder and managing director of defunct Jersey-based IFA firm Lumiere Wealth, Christopher Byrne, is facing further charges relating to making false promises to persuade someone to invest.
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Crown dependencies set out their stall in Brexit talks
Chief ministers of Jersey, Guernsey and the Isle of Man have held the first in a series of meetings with the UK government aimed at setting out their interests in the Brexit negotiations with the European Union.
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Credit Suisse sets up wealth mgmt firm in Channel Islands
With Credit Suisse ending direct client coverage out of the Channel Islands, the Swiss bank has set up a wealth management firm with local financial service provider Stenham Group, that will act as an external asset manager (EAM) for the bank regionally and elsewhere.
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Lumiere Wealth MD arrested ‘in connection with’ JFSC probe
Christopher Byrne, the founder and managing director of Jersey-based IFA firm Lumiere Wealth, has been arrested in connection with the firm’s ties to the Guernsey-registered Providence funds.
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Jersey, Guernsey and US regulators target Providence Global
The Jersey Financial Services Commission (JFSC) is working closely with its Guernsey counterpart and in parallel with US regulators against wound-up financial services firm Providence Global.