19th October 2016
Christopher Paul Byrne, the founder and managing director of Lumiere Wealth Ltd, a Jersey advisory firm, has been arrested “in connection with” ongoing investigations into the firm and its ties to Guernsey-registered Providence funds. In a statement on its website, the Jersey Financial Services Commission said it was “aware of the… Read More
5th October 2016
Around a year ago, the government of Jersey, a British Crown dependency, announced its intention to look at regulation for the activity of digital currency exchanges. While they said at the time they did not want to impose an oversight heavy licensing system such as that favored by New York,… Read More
7th September 2016
Terrorist financing and financial crime currently pose the most severe risks facing financial services firms in Jersey, according to a recent survey from the Jersey Financial Services Commission. The finding is a result of the Commission’s Risk Overview survey of approximately 300 compliance officers conducted in June this year. More… Read More
24th August 2016
Providence Investments Funds and its manager Providence Investment Management International have been wound up by order of the Royal Court of Guernsey. The wind-up application was brought by the Guernsey Financial Services Commission (GFSC) after all of the directors of both companies resigned on 4 and 5 August, having informed… Read More
29th June 2016
Jersey’s financial services regulator, the Jersey Financial Services Commission, has warned the public to be wary of unregulated investment opportunities. The Commission said: “In the current prolonged low-interest rate environment, consumers with money to invest can be tempted by products which appear to offer a high rate of return …… Read More
24th May 2016
Jersey's efforts to crack down on money laundering have been praised by a European Council watchdog. Read More
12th April 2016
JERSEY will ‘reinforce’ its commitment to fighting international financial crime by signing up to a new transparency agreement between the UK and its offshore dependencies today, the Chief Minister has said. Read More
22nd March 2016
HM Revenue & Customs has admitted it will fail to reach its £1bn target to recoup money funnelled offshore to evade paying tax as it is too busy with its existing workload. Read More
25th February 2016
A Jersey registered company has pleaded guilty to four counts of money laundering in a case involving a corrupt Kenyan public official who hid millions of pounds in the Island. Read More
Barry Faudemer is the Director of Enforcement at the Jersey Financial Services Commission. Jersey has a well-earned reputation as one of the world's most reputable offshore financial centres, due in large part to the role of its regulator in investigating and challenging wrongdoing. In this exclusive interview for KYC360, Barry explains the secrets behind the success of the Island's approach. Read More