THE PERILS OF CUTTING

CORNERS

Where regulation amp HR overlap

Advocate Vicky Milner

080617

wwwcallingtonchamberscom

CALLINGTON CHAMBERS

Topics

bull Introduction

bull Caversham amp Bell

bull Hampton v STM Fiduciare

bull Corporate governance amp HR

ndash Governance and business ethos

ndash Recruitment

ndash Managing performance and conduct

bull Questions

CALLINGTON CHAMBERS

2015 Jersey GVA by sector CALLINGTON CHAMBERS

fd

fs

df

g

df

sf

s

d

s

df

s

d

s

df

sf

s

df

s

df

Financial services

GVA

bull 417 of total

bull pound1713 million

Island Strategy on

AML and CFT

ldquoApart from social reasons there are also sound

economic reasons for preventing and detecting

money laundering and terrorist financing The

perception of Jersey as a respectable and well

regulated financial centre in which to do business

and invest funds depends on its reputation for

honesty and integrityrdquo

CALLINGTON CHAMBERS

Moneyval 2016

hellipdescribed Jersey as

ldquohellipa well-established international financial

centre with a mature and sophisticated

AMLCFT regimehelliprdquo

CALLINGTON CHAMBERS

Moneyval 2016

hellipbut noted that they would expect to see

ndash more suspicions of money laundering being

investigated and

ndash more cases being prosecuted

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Risk

the human element

Caversham CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

ldquo Mr Stevens has recently as Attorney for Mr

Lee received monies from the proceeds of the

sale of a sauna in London and they now wish to

reinvest those monies Mr Lee is a non-resident

who wishes the monies to be kept offshore in the

first instancerdquo

Caversham CALLINGTON CHAMBERS

bull 041202 New instruction from Timothy Clarke London solicitor as introducer for ldquoGary Stevensrdquo Caversham bank details requested

bull Nicholas Bell provides bank details

bull 101202 Caversham receives pound850000 from ldquoGary Stevensrdquo

bull 121202 Clarke requests that pound825000 be transferred into 4 UK bank accounts

bull 131202 Advent Trust created Bell transfers the sums

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Topics

bull Introduction

bull Caversham amp Bell

bull Hampton v STM Fiduciare

bull Corporate governance amp HR

ndash Governance and business ethos

ndash Recruitment

ndash Managing performance and conduct

bull Questions

CALLINGTON CHAMBERS

2015 Jersey GVA by sector CALLINGTON CHAMBERS

fd

fs

df

g

df

sf

s

d

s

df

s

d

s

df

sf

s

df

s

df

Financial services

GVA

bull 417 of total

bull pound1713 million

Island Strategy on

AML and CFT

ldquoApart from social reasons there are also sound

economic reasons for preventing and detecting

money laundering and terrorist financing The

perception of Jersey as a respectable and well

regulated financial centre in which to do business

and invest funds depends on its reputation for

honesty and integrityrdquo

CALLINGTON CHAMBERS

Moneyval 2016

hellipdescribed Jersey as

ldquohellipa well-established international financial

centre with a mature and sophisticated

AMLCFT regimehelliprdquo

CALLINGTON CHAMBERS

Moneyval 2016

hellipbut noted that they would expect to see

ndash more suspicions of money laundering being

investigated and

ndash more cases being prosecuted

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Risk

the human element

Caversham CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

ldquo Mr Stevens has recently as Attorney for Mr

Lee received monies from the proceeds of the

sale of a sauna in London and they now wish to

reinvest those monies Mr Lee is a non-resident

who wishes the monies to be kept offshore in the

first instancerdquo

Caversham CALLINGTON CHAMBERS

bull 041202 New instruction from Timothy Clarke London solicitor as introducer for ldquoGary Stevensrdquo Caversham bank details requested

bull Nicholas Bell provides bank details

bull 101202 Caversham receives pound850000 from ldquoGary Stevensrdquo

bull 121202 Clarke requests that pound825000 be transferred into 4 UK bank accounts

bull 131202 Advent Trust created Bell transfers the sums

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

2015 Jersey GVA by sector CALLINGTON CHAMBERS

fd

fs

df

g

df

sf

s

d

s

df

s

d

s

df

sf

s

df

s

df

Financial services

GVA

bull 417 of total

bull pound1713 million

Island Strategy on

AML and CFT

ldquoApart from social reasons there are also sound

economic reasons for preventing and detecting

money laundering and terrorist financing The

perception of Jersey as a respectable and well

regulated financial centre in which to do business

and invest funds depends on its reputation for

honesty and integrityrdquo

CALLINGTON CHAMBERS

Moneyval 2016

hellipdescribed Jersey as

ldquohellipa well-established international financial

centre with a mature and sophisticated

AMLCFT regimehelliprdquo

CALLINGTON CHAMBERS

Moneyval 2016

hellipbut noted that they would expect to see

ndash more suspicions of money laundering being

investigated and

ndash more cases being prosecuted

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Risk

the human element

Caversham CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

ldquo Mr Stevens has recently as Attorney for Mr

Lee received monies from the proceeds of the

sale of a sauna in London and they now wish to

reinvest those monies Mr Lee is a non-resident

who wishes the monies to be kept offshore in the

first instancerdquo

Caversham CALLINGTON CHAMBERS

bull 041202 New instruction from Timothy Clarke London solicitor as introducer for ldquoGary Stevensrdquo Caversham bank details requested

bull Nicholas Bell provides bank details

bull 101202 Caversham receives pound850000 from ldquoGary Stevensrdquo

bull 121202 Clarke requests that pound825000 be transferred into 4 UK bank accounts

bull 131202 Advent Trust created Bell transfers the sums

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Island Strategy on

AML and CFT

ldquoApart from social reasons there are also sound

economic reasons for preventing and detecting

money laundering and terrorist financing The

perception of Jersey as a respectable and well

regulated financial centre in which to do business

and invest funds depends on its reputation for

honesty and integrityrdquo

CALLINGTON CHAMBERS

Moneyval 2016

hellipdescribed Jersey as

ldquohellipa well-established international financial

centre with a mature and sophisticated

AMLCFT regimehelliprdquo

CALLINGTON CHAMBERS

Moneyval 2016

hellipbut noted that they would expect to see

ndash more suspicions of money laundering being

investigated and

ndash more cases being prosecuted

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Risk

the human element

Caversham CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

ldquo Mr Stevens has recently as Attorney for Mr

Lee received monies from the proceeds of the

sale of a sauna in London and they now wish to

reinvest those monies Mr Lee is a non-resident

who wishes the monies to be kept offshore in the

first instancerdquo

Caversham CALLINGTON CHAMBERS

bull 041202 New instruction from Timothy Clarke London solicitor as introducer for ldquoGary Stevensrdquo Caversham bank details requested

bull Nicholas Bell provides bank details

bull 101202 Caversham receives pound850000 from ldquoGary Stevensrdquo

bull 121202 Clarke requests that pound825000 be transferred into 4 UK bank accounts

bull 131202 Advent Trust created Bell transfers the sums

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Moneyval 2016

hellipdescribed Jersey as

ldquohellipa well-established international financial

centre with a mature and sophisticated

AMLCFT regimehelliprdquo

CALLINGTON CHAMBERS

Moneyval 2016

hellipbut noted that they would expect to see

ndash more suspicions of money laundering being

investigated and

ndash more cases being prosecuted

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Risk

the human element

Caversham CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

ldquo Mr Stevens has recently as Attorney for Mr

Lee received monies from the proceeds of the

sale of a sauna in London and they now wish to

reinvest those monies Mr Lee is a non-resident

who wishes the monies to be kept offshore in the

first instancerdquo

Caversham CALLINGTON CHAMBERS

bull 041202 New instruction from Timothy Clarke London solicitor as introducer for ldquoGary Stevensrdquo Caversham bank details requested

bull Nicholas Bell provides bank details

bull 101202 Caversham receives pound850000 from ldquoGary Stevensrdquo

bull 121202 Clarke requests that pound825000 be transferred into 4 UK bank accounts

bull 131202 Advent Trust created Bell transfers the sums

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Moneyval 2016

hellipbut noted that they would expect to see

ndash more suspicions of money laundering being

investigated and

ndash more cases being prosecuted

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Risk

the human element

Caversham CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

ldquo Mr Stevens has recently as Attorney for Mr

Lee received monies from the proceeds of the

sale of a sauna in London and they now wish to

reinvest those monies Mr Lee is a non-resident

who wishes the monies to be kept offshore in the

first instancerdquo

Caversham CALLINGTON CHAMBERS

bull 041202 New instruction from Timothy Clarke London solicitor as introducer for ldquoGary Stevensrdquo Caversham bank details requested

bull Nicholas Bell provides bank details

bull 101202 Caversham receives pound850000 from ldquoGary Stevensrdquo

bull 121202 Clarke requests that pound825000 be transferred into 4 UK bank accounts

bull 131202 Advent Trust created Bell transfers the sums

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Risk

the human element

Caversham CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

ldquo Mr Stevens has recently as Attorney for Mr

Lee received monies from the proceeds of the

sale of a sauna in London and they now wish to

reinvest those monies Mr Lee is a non-resident

who wishes the monies to be kept offshore in the

first instancerdquo

Caversham CALLINGTON CHAMBERS

bull 041202 New instruction from Timothy Clarke London solicitor as introducer for ldquoGary Stevensrdquo Caversham bank details requested

bull Nicholas Bell provides bank details

bull 101202 Caversham receives pound850000 from ldquoGary Stevensrdquo

bull 121202 Clarke requests that pound825000 be transferred into 4 UK bank accounts

bull 131202 Advent Trust created Bell transfers the sums

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

ldquo Mr Stevens has recently as Attorney for Mr

Lee received monies from the proceeds of the

sale of a sauna in London and they now wish to

reinvest those monies Mr Lee is a non-resident

who wishes the monies to be kept offshore in the

first instancerdquo

Caversham CALLINGTON CHAMBERS

bull 041202 New instruction from Timothy Clarke London solicitor as introducer for ldquoGary Stevensrdquo Caversham bank details requested

bull Nicholas Bell provides bank details

bull 101202 Caversham receives pound850000 from ldquoGary Stevensrdquo

bull 121202 Clarke requests that pound825000 be transferred into 4 UK bank accounts

bull 131202 Advent Trust created Bell transfers the sums

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

ldquo Mr Stevens has recently as Attorney for Mr

Lee received monies from the proceeds of the

sale of a sauna in London and they now wish to

reinvest those monies Mr Lee is a non-resident

who wishes the monies to be kept offshore in the

first instancerdquo

Caversham CALLINGTON CHAMBERS

bull 041202 New instruction from Timothy Clarke London solicitor as introducer for ldquoGary Stevensrdquo Caversham bank details requested

bull Nicholas Bell provides bank details

bull 101202 Caversham receives pound850000 from ldquoGary Stevensrdquo

bull 121202 Clarke requests that pound825000 be transferred into 4 UK bank accounts

bull 131202 Advent Trust created Bell transfers the sums

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

bull 041202 New instruction from Timothy Clarke London solicitor as introducer for ldquoGary Stevensrdquo Caversham bank details requested

bull Nicholas Bell provides bank details

bull 101202 Caversham receives pound850000 from ldquoGary Stevensrdquo

bull 121202 Clarke requests that pound825000 be transferred into 4 UK bank accounts

bull 131202 Advent Trust created Bell transfers the sums

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Money laundering CALLINGTON CHAMBERS

Typical steps include

bull Placement

bull Layering

bull Integration

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Caversham CALLINGTON CHAMBERS

Both the companies and Bell were found guilty of

failing to comply with the requirements of the

Money Laundering (Jersey) Order 1999

ldquohellipthe identity of Mr Lee if he ever existed was

never followed up in any way This is in our view

a very serious breakdown of internal controls on a

company which has hitherto had an impeccable

recordrdquo

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

AML-related prosecutions

bull Caversham amp Bell 2005-2006

bull Michel 2010

bull Bhojwani 2010

Aside from numerous directions issued by the JFSC

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Hampton facts CALLINGTON CHAMBERS

bull Termination of client trust structure was requested

bull H responsible for the process and documentation

bull H confirmed all in order directors signed off termination trust monies (euro3 million) were paid away (15 Oct 2012)

bull There was a Suspicious Activity Report (SAR) in place monies should not have been paid away without notifying SoJP

bull Compliance warning flag appeared every time client file was accessed

bull H was aware of flag but failed to take relevant steps

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon) Suspension investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Hampton

Disciplinary process

CALLINGTON CHAMBERS

bull 081112 (Thurs) Failings discovered

bull 121112 (Mon)

ndash Suspension

ndash Investigation commences

bull 191112 Report

bull 281112 Disciplinary meeting

bull 301112 Dismissal for gross misconduct

bull 101212 Appeal meeting

bull 131212 Decision confirmed (upheld)

bull 211212 Appeal to CEO (2nd appeal) rejected

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

HamptonTribunal CALLINGTON CHAMBERS

H argued that

bull It was a box ticking exercise

bull Someone else should have spotted his failings

bull Admitted that he had ldquocut cornersrdquo but that

directors had responsibility to ensure all was in

order

bull Investigation and disciplinary process unfair

bull It was not gross misconduct

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

HamptonTribunal CALLINGTON CHAMBERS

ldquohellipthe Respondent was placed in a very

precarious position by the Applicantrsquos actions It

took swift and fair steps to suspend him and then

to investigate what had happened It might have

chosen to not summarily dismiss him perhaps in

recognition of his service but its decision to take

that option was certainly within the band of

reasonable responses in all the circumstancesrdquo

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

HamptonTribunal CALLINGTON CHAMBERS

Outcome dismissal was fair

Note of unfair dismissal cases that go to a final

Tribunal hearing (ie excluding those that settle or

are withdrawn before a final hearing) over 60 are

now successfully defended by employers

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Governance amp HR

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Corporate governance

Cadbury Committee 1992

ldquoCorporate governance is the system by which

companies are directed and controlled Boards of

directors are responsible for the governance of their

companieshellipThe responsibilities of the board include

setting the companyrsquos strategic aims providing the

leadership to put them into effect supervising the

management of the business and reporting to

shareholders on their stewardshiphelliprdquo

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Corporate governance

ndash Strategy

ndash Leadership

ndash Supervision

ndash Accountability

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Corporate governance

bull Barings Bank

bull Barclays Bank

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Corporate governance

bull Good practice must be led from the top

bull Since 2008 increasing pressures

ndash Financial

ndash Regulatory

ndash Technological

bull Performance requirements can lead to cutting

corners

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Systems

bull Put policies and procedures in place

bull Make sure everyone

ndash Understands the rationale for policies and procedures

ndash Is well-informed about the policies and procedures

ndash Is not wrongly deterred from following them

ndash Is able to comply

bull Risk management

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Recruitment

bull Invest

bull Follow procedures and policies

bull Obtain references

bull Issue contracts

bull Train support monitor

bull Review

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Performance amp conduct

bull Invest

bull Follow policies and procedures

bull Train support monitor

bull Review and act on problems

bull Record-keeping

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

CALLINGTON CHAMBERS

Independent - London Marathon 2017 Swansea Harriers runner helps

David Wyeth YoutubeScreengrab

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Disciplinary process

CALLINGTON CHAMBERS

bull Failings discovered

bull Consider suspension in serious cases

bull Investigation

bull Report

bull Disciplinary meeting

bull Decision

bull Appeal

Record keeping is critical

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Questions

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Cases and other materials

bull AG v Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd [2005]JRC165

httpswwwjerseylawjejudgmentsunreportedPDFs5B20055DJRC165pdf

bull Bell amp Caversham Fiduciary Services Ltd amp Caversham Trustees Ltd v AG [2006]JCA014

httpswwwjerseylawjejudgmentsunreportedPDFs5B20065DJCA014pdf

bull Osborne v Spellbound Holdings Limited ta La Motte Ford JEDT Case No 0801-00209

httpswwwjerseylawjejudgmentsjetPDFsOSBORNE20v20Spellbound20Holdings20320Notification20of

20Tribunals20decision20F20(RO)pdf

bull Price v Womenrsquos Refuge JEDT Case No 2710-4215

httpswwwjerseylawjejudgmentsjetPDFs2016-08-1820Price20-20142-2015pdf

bull Hampton v STM Fiduciaire JEDT Case No 1501-1213

httpswwwjerseylawjejudgmentsjetPDFs2016-11-1-Hampton-12-2013pdf

bull ldquoDear CEOrdquo letter from JFSC Director General dated 22 February 2016

httpswwwjerseyfscorgpdfJFSCCyberLetterFeb2016pdf

CALLINGTON CHAMBERS

Contact us CALLINGTON CHAMBERS

Advocates Vicky Milner amp Davida Blackmore

Callington Chambers

T (00 44) 1534 510250

E vickymilnercallingtonchamberscom

W wwwcallingtonchamberscom

Follow us on Twitter

Callington_law