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Fraud conviction results in loss of financial services authorisation.

Monday, 15 May, 2023 - 05:24

The Jersey Financial Services Commission has prohibited a former solicitor "from performing any function for, engaging in any employment by, or holding any position in, a Schedule 2 business, without the prior written approval of the JFSC."

Schedule 2 of the Proceeds of Crime (Jersey) Law refers to a broad range of financial services and can be found here: https://www.jerseylaw.je/laws/current/Pages/08.780.aspx

Julie Ann Harrigan (Date of Birth: 8 July 1985) was sentenced to three years' imprisonment by the Royal Court, having pleaded guilty to one count of fraudulent conversion. At the time of the offence, Ms Harrigan had been a Jersey solicitor for several years and the offence was committed in the course of her employment.

As a result, in May 2023, the Commission determined that Harrigan is not a fit and proper person to be involved in financial services and that she poses "poses a significant risk to the JFSC’s guiding principles and objectives of reducing the risk to the public of financial loss, protecting and enhancing the reputation and integrity of Jersey in commercial and financial matters, and countering financial crime in Jersey and elsewhere."

That's an awful lot of words. It means that her conviction for dishonestly in a fiduciary position means that she can't be trusted with other people's money.

If she were to do scheduled business, on her own account or through another person, she will commit an offence, unless she has the Commission's prior consent. But this is interesting: "Any person who allows Ms Harrigan to perform a function, engage in employment or hold a position knowing that such performance, engagement or holding is in contravention of the directions shall be guilty of an offence."

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