Joint Disciplinary Scheme to investigate trade finance group Versailles collapse

Following a report from the English ICA, the JDS executive counsel Chris Dickson is set to step in. Under the scheme, the professional and business conduct of members and member firms in matters giving rise to public concern.

After Dickson concludes his investigation, he will decide whether there are grounds for complaint to be heard by an independent Joint Disciplinary Tribunal.

But a JDS statement said: ‘The referral should not be construed as meaning either that a view has been formed that a prima facia case exists against any member or member firm or that such a finding is likely.’

The move follows an inquiry into accounting irregularities at Versailles which was extended to address fears that some of the transactions underlying the company’s £230m turnover may have been counted twice.

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