The Jersey Financial Services Commission (JFSC) has fined IQ-EQ £803,661.17 for regulatory breaches.
IQ-EQ Jersey reported rapid growth between 2012 and 2016 following the acquisitions of several Jersey regulated trust companies.
The JFSC then conducted a report that revealed specific IQ-EQ Jersey systems, controls and corporate governance arrangements were in breach of regulatory requirements.
Jill Britton, JFSC director general, said: “We consider the Board of ...
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