Any Other Business - February 2018

Any Other Business: Essential Reading for Channel Island NEDs - February 2018

Charlotte Valeur on boardroom diversity

Charlotte Valeur is the founder and CEO of Global Governance Group, which provides a variety of governance related services. Charlotte has experience serving on the boards of a number of listed and unlisted companies, including Chair of FTSE250 Kennedy Wilson Europe Real Estate Plc, NED of LSE listed JPMorgan Global Convertibles Income Trust Plc and NED on the board of Renewable energy company NTR Plc. She has over 30 years' experience in the financial industry as an investment banker in Denmark and the UK.

Read the Q&A with Charlotte Valeur : Q&A with Charlotte Valeur on boardroom diversity and best practice in corporate governance

Implied indemnity when acting as a director of a client company

A recent decision of the High Court in England should be carefully considered by corporate service providers in Jersey. In First Names (Jersey) Limited v IFG Group PLC [2017] EWHC 3014 (Comm) Knowles J held that there is an implied term in the contract of employment that an employee required to serve as a director of a client company, and acting in good faith, would be indemnified against costs, losses and liabilities incurred in the course of that directorship.

The Carlyle case and Directors' Duties

A judgment handed down in September 2017 by the Royal Court of Guernsey cleared the Carlyle Group, Carlyle Investment Management, and TCGH (represented by Simon Davies of Ogier) together with its seven executive and non-executive directors of liability over the collapse of Carlyle Capital Corporation (CCC), a Guernsey investment fund that went into insolvency in the wake of the financial crash in 2008. 

Read partner Simon Davies' briefing: The Carlyle case and Directors' Duties

Preparatory audit of data for GDPR

Being able to comply with the GDPR by May 2018 requires preparation. If you have not yet started preparing, it is imperative that you do so now.

You need to understand the life cycle of all categories of data within your business. This means collaborating with the business leads across your organisation (such as the head of your HR, IT and Business Development teams) to identify the entry point, process, inputs, outputs and exit points of data.

Read GDPR insights: Preparatory audit of data for GDPR