The Commission has noted the coverage in the Guardian of 4 March 2009 under the heading “Chelsea connection” about investigations by the Financial Services Authority and the Guernsey Financial Services Commission around 2003, including Mr Patrick Murrin’s comments on the circumstances of his departure from Harbour Trustees Limited. The Commission repeats the statement it made on this subject in 2004 when it said:

“The Commission has been discussing with Harbour Trustees Limited (“HTL”) various issues relating to HTL’s management and operations. These discussions are now complete. Mr Patrick Murrin will be retiring from HTL as soon as arrangements are in place for the assumption of his responsibilities within the company”.