Barry Faudemer
Chief Executive, Baker Regulatory, Jersey
Introduction
Baker Regulatory Services Limited is the company established by Baker & Partners to provide specialist regulatory services.
It is a unique offering led by former senior regulators who have been at the forefront of the rapidly evolving offshore regulatory regime over decades. Our team, with deep expert knowledge of the international standards that have been absorbed into the Jersey regulatory framework, provide bespoke regulatory solutions, assisting businesses to effectively manage their AML/CFT and regulatory risks as well as related training.
Baker Regulatory Services’ Chief Executive is Barry Faudemer who for thirteen years was Director of Enforcement and MLRO of the Jersey Financial Services Commission (JFSC). Cyril Whelan is Chairman of Baker Regulatory Services, having served for ten years as a Commissioner of the JFSC. We are the only regulatory firm with JFCU and JFSC experience in its leadership team.
Baker Regulatory Services is supported by a team consisting of former regulators, lawyers and accountants with extensive experience of advising on regulatory laws and financial crime issues. This publication is intended for general information purposes only and should not be relied upon as a source of legal advice. Information correct as of September 2020. Independent legal advice should be sought before taking any action based on information contained within this publication.
Our Services
Our goal is to assist financial services businesses achieve compliance with AML/CFT legislation and Codes of Practice together with all guidance/ handbooks issued by the regulator thereby effectively managing the AML/CFT threat and regulatory risks faced by businesses and individuals.
In achieving our goal, we will provide high calibre and experienced professionals capable of demonstrating a detailed understanding of the above requirements and drawing upon their depth of experience to identify and achieve solutions.
We provide the following regulatory services:
- AML/CFT compliance advice
- Business risk assessment
- International sanctions compliance
- Board requested skilled person reports
- Regulator required skilled person reports
- Regulatory compliance monitoring assurance and oversight programmes
- Managing regulatory relationships
- General regulatory health check
- Merger and acquisition due diligence
- Remediation and effectiveness testing
- Managing civil financial penalty settlement negotiations
- Civil and criminal fraud investigations Bespoke training can also be provided on all of the above.
Please contact us to discuss your specific needs and how best we can accommodate them. We offer an initial confidential consultation without charge.
The Principal Persons at Baker Regulatory Services are Chief Executive Barry Faudemer and Chairman Cyril Whelan.
Barry Faudemer
After thirteen years in the role as the JFSC’s Director of Enforcement and MLRO Barry Faudemer stood down in June 2020. Prior to joining the JFSC Barry was the Head of the Police and Customs Joint Financial Crimes Unit and has extensive experience of investigating financial crime, conducting regulatory investigations and managing financial intelligence. Barry is a graduate of the prestigious FBI National Academy having studied how terrorist organisations fund their activities and has over forty years of enforcement experience. As a member of the National Risk Assessment Working Group identifying current AML/CFT threats to Jersey’s finance industry Barry contributed to the National Risk Assessment. Barry has a unique insight into the AML/CFT threats and current challenges facing businesses, together with the most common regulatory failings leading to public sanction by the JFSC. He has unrivalled experience in the regulatory field.
Cyril Whelan
In June 2020 Advocate Cyril Whelan completed the maximum ten-year tenure as a Commissioner of the JFSC and stood down from the role. In that capacity he has become greatly familiar with the requirements and practices of the JFSC and indeed has contributed to the formulation of a number of the JFSC’s enforcement policies and processes. Conflict-free, he is now able to chair the board of Baker Regulatory Services, bringing to it a range of unparalleled relevant experience. He has acted as Jersey’s Attorney General from time to time and has also acted on behalf of successive Attorneys General in the implementation of major regulatory and mutual assistance legislation in Jersey. He has been involved in high profile investigative and litigation work relating to asset recovery on behalf of governments worldwide.
Cyril is one of Jersey’s four Moneyval assessors, trained to assess the AML/ CFT defences of countries across a wide international front. Moneyval is the committee of experts on the evaluation of anti-money laundering measures and the financing of terrorism, an independent monitoring mechanism within the Council of Europe answerable directly to the Committee of Ministers.
Cyril spent 28 years as senior legal adviser in the Law Officers’ Department in Jersey and is deeply experienced in all regulatory areas as well as in the investigation and prosecution of serious and complex fraud.
Cyril Whelan
In June 2020 Advocate Cyril Whelan completed the maximum ten-year tenure as a Commissioner of the JFSC and stood down from the role. In that capacity he has become greatly familiar with the requirements and practices of the JFSC and indeed has contributed to the formulation of a number of the JFSC’s enforcement policies and processes. Conflict-free, he is now able to chair the board of Baker Regulatory Services, bringing to it a range of unparalleled relevant experience. He has acted as Jersey’s Attorney General from time to time and has also acted on behalf of successive Attorneys General in the implementation of major regulatory and mutual assistance legislation in Jersey. He has been involved in high profile investigative and litigation work relating to asset recovery on behalf of governments worldwide.
Cyril is one of Jersey’s four Moneyval assessors, trained to assess the AML/ CFT defences of countries across a wide international front. Moneyval is the committee of experts on the evaluation of anti-money laundering measures and the financing of terrorism, an independent monitoring mechanism within the Council of Europe answerable directly to the Committee of Ministers.
Cyril spent 28 years as senior legal adviser in the Law Officers’ Department in Jersey and is deeply experienced in all regulatory areas as well as in the investigation and prosecution of serious and complex fraud.
