Salsac Management Limited (2010-07-20)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) under Article 25(d) of the Financial Services (Jersey) Law 1998, announcing regulatory action concerning Salsac Management Limited and Shannon Trustees Limited (together the Salsac Companies), which operated a trust company business.

• Background: Following a 2009 to 2010 JFSC investigation into the fitness and propriety of the Salsac Companies, Mr Alan John Salsac, the former Managing Director and owner, voluntarily decided to wind down the trust company business.
• Winding up: On 13 July 2010, Salsac Management Limited entered into a creditors' winding up arrangement under Chapter 4 of Part 21 of the Companies (Jersey) Law 1991.

The statement is purely informational, notifying the public of the outcome of the investigation and the voluntary wind down and liquidation of the named trust company businesses. It does not impose any continuing obligations on third parties or other regulated entities.

Applies to

trust company business, Salsac Management Limited (in liquidation), Shannon Trustees Limited