GFSC continue enforcement into December
On the 11th day of December 2020 the Commission imposed the following discretionary financial penalties:
Safehaven International Limited (the “Firm”) - £100,000
- Mr Richard John Bach - £50,000
- Miss Tracey Jane Ozanne - £5,000
- Mr David Charles Housley Whitworth - £10,000
- Mr Michael John Good - £10,000
- Mr Stephen John Dickinson - £1,000 (collectively the “Individuals”)
- Mr Richard John Bach was also prohibited from holding the position of controller, director, partner, manager, money laundering reporting officer, money laundering compliance officer or compliance officer of a regulated entity for a period of 6 years from the date of this publication.
- The exemption set out in section 3(1)(g) of the Regulation of Fiduciaries, Administration Business and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 (the “Fiduciaries Law”) (which would otherwise permit Mr Bach to act as a director of not more than six companies) has also been disapplied in respect of Mr Bach for a period of 6 years from the date of this publication.
- Miss Tracey Jane Ozanne was also prohibited from holding the position of money laundering reporting officer, money laundering compliance officer or compliance officer of a regulated entity for a period of 5 years from the date of this publication.
The above sanctions were imposed on the Firm and the Individuals as a result of their failure to meet the minimum criteria for licensing as set out in Schedule 1 to the Fiduciaries Law.
More details to follow in due course
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