Jersey financier struck off

A senior Jersey Trust company worker has been banned from working in the finance industry after an investigation found she had breached the codes of conduct for practising finance in the island.

47-year-old Michelle Jardine was responsible for investigating suspicious activity and money laundering but the Jersey Financial Services Commission found evidence she wasn't carrying out proper checks in the paperwork of up to 19 people.

Following the investigation on 15th March 2012, Mrs Jardine resigned from STM Jersey, where she was a principal person in the company.

If she gets a job with a registered financial person again, she will be breaking the law, as will anyone who employs her who is registered in the finance industry.

The Commission also found fault in the management of the company Jardine worked for, STM.

Following the investigation, STM Jersey has taken a number of measures to clean up its act, including firing it's Money Laundering Reporting Officer, appointing a new Managing Director, recruiting two new Directors to the board, taking on a new Money Laundering Reporting Officer and a new Compliance Officer. And putting in place a new processes and procedures and a re-mediation programme.