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STM Fiduciaries have been censured in a public statement by the financial services regulator over failure to act on suspicious activity reports.
A similar public statement has been made in respect of a former member of staff, Michelle Jardine - who has been barred from working in the financial services industry.
The statements follow the acquittal last week - following a four-day trial - of both STM and Mrs Jardine under the Proceeds of Crime (Jersey) Law.
They were found not guilty of charges relating to failing to disclose suspicious activity reports to regulators.
Yesterday's statement by the JFSC noted that both STM and Mrs Jardine co-operated fully with the investigation into what had gone wrong, and that STM had taken immediate steps to strengthen its compliance function.
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