Mr Carl Lewis Maton (R) (2017-02-04)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) disclosing regulatory directions given to an individual, Mr Carl Lewis Maton, following an investigation into his fitness and propriety under the Banking Business (Jersey) Law 1991 (BB(J)L). It names Mr Maton personally and restricts his ability to work in regulated financial services businesses in Jersey.

• Prohibition: Mr Maton is barred from performing any function, engaging in any employment, or holding any position in the business of a registered person without first obtaining prior written approval from the JFSC.
• Deposit-taking bar: He is further prohibited from performing any function or service falling within the definition of deposit-taking business under Article 3 of the BB(J)L.
• Cross-law effect: Equivalent directions have been issued under each of the other regulatory laws and the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008.
• Duration: The directions remain in force until Mr Maton successfully applies to the JFSC for a variance or withdrawal under Article 21(5) of the BB(J)L.
• Offences: It is an offence under Article 21(7) of the BB(J)L for Mr Maton to breach the directions, and an offence under Article 21(7A) for any person to knowingly allow him to perform a function or role in contravention of the directions.

This notice is primarily informational for the industry: it puts registered persons and other regulated entities on notice not to employ, engage or place Mr Maton in any capacity without JFSC approval, and warns that doing so knowingly is itself an offence.

Key obligations

• Registered persons and other regulated businesses must not allow Mr Maton to perform any function, hold any position, or engage in employment within their business unless he has first obtained prior written approval from the JFSC.
• Any person who knowingly allows Mr Maton to perform a function or hold a position in contravention of the directions commits an offence.
• Mr Maton must obtain prior written JFSC approval before performing any function, employment or position in the business of a registered person, or must successfully apply for variance or withdrawal of the directions before doing so.

Applies to

registered persons, banking business entities, deposit-taking businesses