PRESS RELEASE 16 April
Jersey Financial Services Commission takes regulatory
action against Warren Financial Services Limited
Following investigations under the Financial Services (Jersey)
Law 1998 (the “Law”), which identified significant
failures of systems and controls, the Commission has issued
directions under Article 23(1) of the Law concerning the activities
of Warren Financial Services Limited (“Warren”)
and its directors. The effect of the directions is to appoint
co-signatories to take control of the assets of Warren and
its customers and to prevent the directors from communicating
with customers without the consent of the co-signatories.
Warren is in the process of winding up its regulated activities.
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Director, Trust Company Business
Jersey Financial Services Commission
Tel: + 44 (0) 1534 822113
Fax: + 44 (0) 1534 822002
Note to Editors.
Pursuant to Article 23(4) of the Law, the Commission has
the power to make public any directions it has given under
any of the provisions of Article 23 where it is satisfied
that the circumstances so warrant.