Mr Stephen Lee Ross (2020-12-01)

Summary

This is a public statement from the Jersey Financial Services Commission (JFSC) announcing the withdrawal of enforcement directions previously issued against an individual, Mr Stephen Lee Ross. It is a case-specific notice rather than a document imposing new rules on regulated entities generally.

• Background: On 22 January 2015, following an investigation, the JFSC issued directions under Article 23(1) of the Financial Services (Jersey) Law 1998 (and equivalent provisions of other regulatory laws) prohibiting Mr Ross from performing any function or engaging in any employment in the business of a Registered Person.
• Application for withdrawal: Mr Ross applied to the JFSC under Article 23(6) of the FS(J)L to have the directions withdrawn or varied, submitting supporting information and documentation.
• Outcome: On 1 December 2020, having considered his submissions, the JFSC exercised its power under Article 23(4) of the FS(J)L to withdraw the Directions in full.

The statement is issued under Article 25(a) of the Financial Services (Jersey) Law 1998 and does not create any ongoing compliance obligations for industry; it simply records the regulator's decision to lift restrictions previously placed on this individual.

Applies to

Registered Persons under the Financial Services (Jersey) Law 1998