A COMPANY director faces a ban after he overrode both the firm’s board and its compliance function to take on a ‘toxic’ Eastern European client connection, it has been revealed.

And the director faces a public statement being made about him, according to the Island’s most senior finance regulator.

Meanwhile, in a different case the financial regulator acted against a regulated firm for trying to discipline a compliance manager for raising concerns about bad practice.

The director general of the Jersey Financial Services Commission, John Harris, said the compliance manager faced ‘misconceived and intimidatory disciplinary proceedings’ for raising the concerns.

Mr Harris highlighted the cases when he spoke to the Jersey Compliance Officers Association last week.