The Jersey Financial Services Commission (JFSC) made a public statement on 4 November outlining its conclusions following a lengthy investigation into local financial adviser Christopher Paul Byrne, former managing director of Lumiere Wealth Limited.
Byrne held a trusted position as a financial adviser however he fraudulently provided clients with unsuitable and misleading advice and dishonestly facilitated a loan from a vulnerable client for his own personal benefit, the regulator said. Despite being cautioned by the JFSC not to do so, Byrne provided a number of clients with financial advice prior to Lumiere being a regulated investment business, preventing the JFSC from having any oversight of the advice provided. He also provided the JFSC with false and misleading information to conceal facts and pertinent information he knew...
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