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.
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.
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.
Portugal’s government has removed Jersey, Isle of Man and Uruguay from its latest blacklist of jurisdictions.
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.
The UK government is fighting to keep Guernsey, Jersey and other British overseas territories off the EU’s planned blacklist of offshore tax havens.
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.
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.
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.
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.
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.
STM Group has entered into a conditional agreement to acquire UK Sipp provider London & Colonial and its subsidiaries for nearly £5.4m ($7.2m, €6.4m).
