AG v Caversham and Bell [2005] JRC 165 (25 November 2005)

AG v Caversham and Bell [2005] JRC 165 (25 November 2005)

The court imposed substantial fines on both the company and Mr Bell to deter future breaches and uphold regulatory standards, taking into account Mr Bell's financial circumstances but not allowing bankruptcy to result from the penalty.

Citation
[2005] JRC 165
Parties
Defendant: Caversham companies; Defendant: Mr Bell; Prosecutor: Attorney General
Jurisdiction
Jersey
Judgment Date
25 November 2005
Procedural Posture
Criminal / Sentencing
Outcome
conviction and sentencing
Legal Topics
Breach of Regulatory Requirements, Internal Controls, Financial Penalties
Financial Regulation Criminal Law Breach of Regulatory Requirements Internal Controls Financial Penalties

Case Brief

Summary, issues, holding and outcome

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Parties

Caversham companies

Defendant

Mr Bell

Defendant

Attorney General

Prosecutor

Procedural Posture

Criminal / Sentencing

Legal Issues

  1. 1 serious breach of financial regulatory law
  2. 2 failure of internal controls
  3. 3 appropriate sentencing and fines

Ratio Decidendi

The court imposed substantial fines on both the company and Mr Bell to deter future breaches and uphold regulatory standards, taking into account Mr Bell's financial circumstances but not allowing bankruptcy to result from the penalty.

Court Disposition

conviction and sentencing

Orders

  • Caversham to pay £25,000 fine for Count 1 and £40,000 fine for Count 2, fines concurrent.
  • Mr Bell to pay £15,000 fine for Count 1 or 6 months' imprisonment in default, £20,000 fine for Count 2 or 6 months' imprisonment in default, fines concurrent.