Carey Olsen pre-empts regulatory change with hire

Jersey firm Carey Olsen has appointed Keith Hood in the newly created role of compliance director as the firm gears up for forthcoming changes in Jersey’s regulatory framework.

Hood joins from Abbey National International in Jersey where he was risk and compliance manager.

Jersey head of banking and regulatory law Paul Sugden said the hire was in response to the International Monetary Fund’s (IMF’s) planned inspection of Jersey, Guernsey and the Isle of Man next year.

He said the IMF would visit the jurisdictions “to assess compliance against the international standards set by the Financial Action Task Force, and also to assess the banking, insurance and securities sectors”.

The appointment also pre-empts amendments to the Proceeds of Crime (Jersey) Law 1999 forecast for next year.

Hood has 20 years’ experience in risk and compliance roles in the UK, the Isle of Man and Jersey, and is a committee member of the Jersey Compliance Officer’s Association and a fellow of the UK’s Compliance Institute.