Guernsey Judgment from the Royal Court suspends £150k fine and public statements.
31/10/2023
In the Guernsey Royal Court, the following was decided
- First Appellant = a financial penalty imposed of £150,000, the prohibition order and the issue of the public statement are suspended until the determination of the appeal.
- Second Appellant = The public statement is suspended until the determination of the appeal,
- Second Appellant = the application for a suspension of the financial penalty of £300,000 is rejected.
On 24 October 2023, the Royal Court handed down a judgment in relation to a Commission matter, which was brought by the appellants who applied for a stay order in relation to sanctions the Commission planned to impose.
Read the judegement.
The GFSC say
- The Commission’s action in seeking to oppose this application marks an unusual exception to, rather than a change in, our more habitual approach of being prepared to entertain stays on sanctions when an individual or entity is exercising his, her or its statutory rights to appeal a decision made by one of the Commission’s Senior Decision Makers following a Commission enforcement investigation.
- The Commission notes the findings of the Deputy Bailiff in this judgment which recognises the Commission’s role in having regard to protecting the public and the reputation of the Bailiwick as a finance centre.
- The Commission will await, following a further fuller hearing, a decision from the Royal Court as to whether the appellants’ substantial appeal against the Senior Decision Maker’s decision in this case is successful.
Source
Read the judgement
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.