Fit and Proper - How to Manage Employee Breaches if You Are a Regulated Business

When employees of regulated financial services providers breach the standards required of them, dismissal may be considered a reasonable sanction, provided the employer complies with its disciplinary procedures and the principles of natural justice. At all times, the employer will need to weigh up the competing requirements of the regulatory and employment regimes in Jersey. Taking legal advice at an early stage, particularly where the misconduct in question may affect the employer's regulated status, is strongly advised on questions including the scope of investigation, how and when to notify the JFSC, and issues around disclosure.

There have been very few cases in the Employment & Discrimination Tribunal that consider misconduct in the context of a regulated business because most claims are settled at an early stage - Walkers acted for the successful defendant in one of the few cases that has come before the Tribunal, Hampton v STM1.

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Daniel ReadPartnerT +44 (0) 1534 700
Nigel SandersPartnerT +44 (0) 1534 700
Tom FothergillSenior CounselT +44 (0) 1534 700

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