- Alternative asset administration company Sanne Group said a subsidiary had reached a settlement agreement with the Jersey Financial Services Commission that was not expected to have an material impact on the group.

The subsidiary, Sanne Fiduciary Services, reached the settlement in relation to a historical failure to remediate 'certain issues' in the Jersey business within an agreed timeframe, Sanne said.

'Sanne Fiduciary Services is pleased to have resolved these discussions with the commission and have reached a mutually acceptable settlement, which is not expected to have any material impact on the group,' it added.

Story provided by