Jersey continues to see a number of high profile matters involving individuals who considered themselves untouchable. These cases provide essential learning in respect of corporate governance, reducing future regulatory, litigation and money laundering risk.
This seminar seeks to focus attention on the importance of businesses being able to demonstrate effective management and control. Our expert speakers will highlight, through studies of recent cases including the Larsen/Volaw TIEA litigation and the prosecution of Windward Trading Limited, how failing to demonstrate effective management and control can result in exposure to risk of litigation, regulatory action and even prosecution.
The Untouchables constitute a group of people, including Kleptocrats, that target offshore financial centres. Such individuals are most likely to seek to push the boundaries in terms of the management and control of a client structure. At the same time, the world has now moved into an era of greater transparency and the likely result of the greater exchange of information through CRS, FATCA, TIEA and even the Panama Papers is an enhanced scrutiny by courts, regulators and prosecutors, both in Jersey and overseas. It is often the case that ineffective evidence of proper management and control, will trigger an interest by the relevant authorities.
This seminar brings together experts who have seen first-hand the impact on businesses of failing to evidence effective control.
Who is the seminar for: Directors, Partners, Shareholders, MLROs, MLCOs, COs and Company Secretaries
CPD: 3 hours
To help alleviate the risks of failing to evidence effective control by setting out:
(i) how to demonstrate proper management and control
(ii) where to focus time and efforts in doing so; and
(iii) the pitfalls to avoid.
Format of the Afternoon
14.00 – 14.15 Registration
14.15 – 14.20 Welcome and Introduction
14.20 – 15.20 Competent Control
Howard Sharp QC and Helen Hatton
A review of current cases in this area by two experts with first-hand experience of what courts, regulators and prosecuting authorities regard as demonstrating competent management and control. Establish what competent control looks like and ensure that your business is demonstrating it.
15.20 - 15.40 Coffee and Tea Break
15.40 – 16.10 The Regulatory Implications of Losing Control
Advocate Caroline Dutot
An exploration of when a lack of demonstrable control in respect of Jersey companies and trusts is likely to raise regulatory issues and the potential implications for both regulated entities and individuals should such a situation arise.
16.10 - 16.40 The Criminal Implications of Losing Control
Advocate Matthew Jowitt
A look at the ultimate risks involved if accession of control to the client becomes absolute.
16.40 – 17.10 A Practical Case Study in Demonstrating Control
Helen Hatton, Managing Director, Sator
A walk through a practical case study to assist regulated entities and individuals to ensure that they, if required, they can demonstrate competent control.
17.10 - 17.15 Closing Remarks
17.15 – 19.00 Drinks Reception
Join together for a drink at the close of the seminar and a chance to win a bottle of champagne on the night and tickets to a private viewing event of the classic Al Capone movie ‘The Untouchables’ at the Cinema in the Grand Hotel in the New Year.
Limited discounted ticket prices for members of JCOA, STEP, JATCo, JSCCA and Jersey Chamber of Commerce.
This is a non-profit event and any proceeds surplus to event costs will go to a Jersey charity.