The AIM-listed, cross border financial group has been told to address seven compliance “priorities” and 21 “recommendations” following a special investigation led by Deloitte and agreed with the island’s financial regulator.
The “skilled person report” into STM’s Gibraltar-regulated companies was agreed with the Gibraltar Financial Services Commission after it suspected failings in oversight, conflicts of interest and client take on and monitoring.
The seven priorities are “required to ensure that the businesses comply with the relevant Gibraltarian legislation and best practice” STM told the London stock exchange this morning.
The report identified the following measures STM would need to take –
- Introduce a more embedded risk framework with better defined risk…
