Contact

Darren Bacon

Darren Bacon

Guernsey
Partner

Frances Watson

Frances Watson

Guernsey
Partner

Helen Wyatt

Helen Wyatt

Guernsey
Partner

John Lewis

John Lewis

Guernsey
Partner

John Rochester

John Rochester

Guernsey
Mourant LP Partner

Annaliese McGeoch

Annaliese McGeoch

Guernsey
Associate

Update

GFSC issues public statement and imposes civil penalty for failure to fulfil the minimum criteria for licensing

[Dynamic date]

23 June 2020

The Guernsey Financial Services Commission (the GFSC) has published a detailed and thorough assessment of its decisions in relation to Criteria Wealth Management Limited (CWML) and two of its officers. The GFSC concluded that CWML and the officers concerned (the CWML Directors) had failed to fulfil the minimum criteria for licensing under the Protection of Investors (Bailiwick of Guernsey) Law, 1987 (the POI Law) and the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002 (the IMII Law).