Hawksford Trust Company Jersey Limited has agreed to settle with the Jersey Financial Services Commission (JFSC) after breaching regulatory rules.

These breaches include “significant and material” breaches as a result of deficient corporate governance over customer structures and systems and controls.

Between 2001 and 2017, the JFSC found Hawksford failed to act in the best interests of one customer and misapplied customer monies in respect of fees charged for three customers.

In 2017, Hawksford reported to the JFSC the results of a file review from a selection of its customer structures that identified si...