CISX 'gag' lifted as new chief minister is elected
A GAGGING order preventing former non-exec directors of the Channel Islands Stock Exchange from speaking about the scandal that cost Peter Harwood his job as chief minister has been lifted.
Eight former directors in the affair, including Deputy Harwood, responded to the removal of the enforced silence by issuing a strongly worded defence of their actions.
They revealed that the Guernsey Financial Services Commission, which has for the last two years been investigating historical activities at the exchange, ordered them to keep quiet.
'In the face of wholly misconceived and unjustified criticisms, certain former non-executive directors of the exchange who have participated in the investigation are now able to comment following the removal of disclosure restrictions,' they said.
'These former directors strongly refute any suggestion of wrongdoing and are actively challenging the content and management of the current investigative process.'
Deputy Harwood resigned as chief minister following a highly critical article in Private Eye magazine in relation to his former dual roles as a non-executive director of the CISX and a commissioner at the GFSC. His deputy, Jonathan Le Tocq, won a closely fought vote yesterday to take hold of the top job, elected with 22 votes to Deputy Allister Langlois' 20.
The former directors said they vigorously denied accusations of 'gross incompetence', 'possible corruption' and the 'protection of vested interests' recently published by Private Eye.
