Alternate Insurance Services to pay out over £1m to investors following case in royal court
A full review of Jersey's regulatory regime has been ordered following a court judgment which found investors were "recklessly mislead" by their Jersey-based financial adviser. Jersey's Royal Court ordered compensation be paid to investors after ruling in favour of Jersey Financial Services Commission (JFSC) in 27 out of 28 cases brought against Alternate Insurance Services. It found investors lost significant amounts of money after they bought high-risk investments, believing they were low risk. The judge awarded a total of £1,564,128.56 to the investors to restore them to their previous...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes