Lawyer Monthly - April 2022

EXPERT INSIGHT 45 APR 2022 | WWW.LAWYER-MONTHLY.COM some money! Now I have the delightful opportunity to “hand craft” a collection of appointments to match my favourite working areas – fundamentally financial services and investigations. Accordingly, I am particularly delighted to have taken up two key appointments, one as independent non-executive director of Santander International and the other as Chairman of Central Associates Limited. Santander is an outstanding bank with a caring and professional culture and I thoroughly enjoy my interactions with them. I particularly enjoy the balance they achieve between being leading innovators on the one hand, yet maintaining a very prudent approach on the other. business held the information they would be required to produce. During my ten years, we built a fabulous organisation, lifted the reputation of Jersey to that of a leading wealth management jurisdiction – and, of course, I learned a great deal about the way trust and company structures work, and can be abused, which has stood me in great stead in countless investigations. I left the Commission in 2009 and started Sator Regulatory Consulting Limited, which did what it said on the tin, and in turn merged that with BDO in 2016, exiting in late 2020. It has been a great journey. One cannot ask more of a career than to have fun, help people and make the position of Provisional Liquidator, deemed Official Receiver, recover the assets for the investors. I took over 50 cases to court during that period and used Companies Act disqualification powers to ban 12 directors. We also assisted the UK regulator of the day, the Savings and Investments Board, to achieve the first offshore freestanding Mareva injunction in a case called SIB v Lloyd-Wright. These developments in effect ended offshore secrecy, the principles being quickly followed in cases across the Crown Dependencies, Caribbean and other British legal model offshore territories. It is a time I remember as innovatory, where personal effort made a real difference and when I really learned about the terrible personal damage that happens to victims of fraud. Families split, marriages fail, homes are lost. Investigating and catching the baddies became a passion – and remains so to this day! I took that passion to a new job in Jersey in 1999 when I was appointed Deputy Director General of the Financial Services Commission (JFSC). It was a big job. I was responsible for developing a team capable of bringing in an all-crimes anti-money laundering framework and devising a regime to regulate the trust company industry; investment advisors, managers and dealers and later looking at money services business including “non-fiat” currencies and various other areas. Across the same timeframe, we had to deal with the progress of the global unfair tax competition initiative and ensure all our regulatory framework was such that our financial services I say ‘always sweat the detail.'

RkJQdWJsaXNoZXIy Mjk3Mzkz