THE PERILS OF CUTTING CORNERS: Where regulation & HR overlap · 6/8/2017 · THE PERILS OF CUTTING...
Transcript of THE PERILS OF CUTTING CORNERS: Where regulation & HR overlap · 6/8/2017 · THE PERILS OF CUTTING...
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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