Tag "CISX"

£190k fine, but no one was at fault

FOR an investigation almost three years in the making and which brought down one of the central pillars of the island’s finance industry, there was little to learn from yesterday’s GFSC statement.

Managing conflicts is not new

IN ITS second piece on the CISX affair, satirical magazine Private Eye speculates that the reason for the resignation of the chief minister is because there is more and worse to come from the investigation into the matter by the Guernsey Financial Services Commission.

A reputation in need of saving

LIKE it or not, Guernsey’s prosperity has been earned on the back of financial services. For the last 40 years or so, a lot of people have worked very hard to build the reputation for honesty and integrity which we ought to enjoy. Fortunately, Guernsey has never had a home-grown scandal, not in living memory, and that is fundamentally due to the integrity of the people who have worked in the industry.

Interests need to be managed

HIS resignation yesterday as chief minister means that Guernsey has lost a man of integrity and ability for doing nothing wrong and government now has to elect what amounts to a caretaker head of the Policy Council for the remaining two years of this political term.

What makes CISX affair so difficult

BEFORE he was elected deputy in 2012, the man who went on to become chief minister was a director of around 50 companies. On the basis that they met quarterly, he would have had, on average, 16 board meetings a month. At even a modest £8,000 a year per directorship, that would have netted an enviable £400,000 per annum, although it is doubtful that someone of his legal expertise and background would concentrate on the small fry.

Chief minister Peter Harwood could be asked to step aside


­SPECULATION was today mounting that Peter Harwood will be asked to step down as chief minister following national media reports about his involvement with financial sector regulation and the problems that faced the Channel Islands Stock Exchange.

CISX concerns could cost it listings


CONCERNS are growing that pending applications to list on the Channel Islands Stock Exchange might go elsewhere following its self-imposed shutdown on new listings.

Crisis talks held over CISX investigation

CRISIS meetings were held yesterday as political leaders and key industry figures discussed the potential fallout from the Channel Islands Stock Exchange investigation.

Investment firms hopes for CISX


MEMBERS of Guernsey’s investment community are hoping that the Channel Islands Stock Exchange can survive or will re-emerge as a new entity.

CI Stock Exchange might have to close

THE future of the Channel Islands Stock Exchange rests in the balance after it was revealed yesterday that it has been under investigation by the financial regulator for nearly two years.