Mr Kevin Robert Manning (R) (2019-11-20)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) naming Mr Kevin Robert Manning and describing directions issued against him under the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008. It follows his criminal conviction for fraudulent conversion and failure to maintain accurate client money records while practising as a solicitor and registered Schedule 2 business under the Supervisory Bodies Law.

• Background: Mr Manning was sentenced in December 2018 to 3 years and 6 months imprisonment after pleading guilty to 20 counts of fraudulent conversion, 1 count of fraudulent conversion by a trustee, and failing to maintain accurate client money records under Article 19 of the Money Laundering (Jersey) Order 2008.
• Findings: The JFSC investigation found the offences occurred over 2008 to 2014 while Mr Manning traded as K R Manning and Co, including improper transfers from curatorships where he acted as Curator to vulnerable interdicts.
• Conclusion: The JFSC concluded Mr Manning is not fit and proper to work in any capacity in or for any Schedule 2 business or any business regulated by the JFSC.
• Sanction: Directions issued under Article 23 of the Supervisory Bodies Law and equivalent directions under other regulatory laws prohibit Mr Manning from performing any function, engaging in employment, or holding any position in a Schedule 2 business or any JFSC regulated business without prior written JFSC approval.
• Offences: Breach of the directions by Mr Manning is itself an offence under Article 23(15) of the Supervisory Bodies Law; any person who knowingly allows him to work in contravention of the directions also commits an offence.

This is an individual enforcement notice rather than a rule of general application; it informs the regulated community that Mr Manning is barred from working in or for Schedule 2 businesses and JFSC regulated financial services businesses unless the JFSC grants prior written approval.

Key obligations

• Mr Manning must not perform any function for, engage in employment by, or hold any position in a Schedule 2 business, or any business regulated by the JFSC, without prior written approval from the JFSC.
• Any person or business must not allow Mr Manning to perform a function, engage in employment, or hold a position knowing this would contravene the directions issued to him.
• Mr Manning (or any affected party) may apply to the JFSC for withdrawal or variation of the directions if grounds under Article 23 no longer justify them.

Applies to

Schedule 2 businesses (lawyers, accountants, estate agents, lenders, high value goods dealers), businesses regulated under the Financial Services (Jersey) Law 1998, businesses regulated under the Insurance Business (Jersey) Law 1996, businesses regulated under the Banking Business (Jersey) Law 1991, businesses regulated under the Collective Investment Funds (Jersey) Law 1988