News

Standard Chartered Trust (Guernsey) Limited fined £140,000 by the GFSC

11/06/2020

On 4th June 2020, the Commission imposed, on an agreed basis, a discretionary financial penalty (under section 11D of The Financial Services Commission (Bailiwick of Guernsey) Law, 1987) on Standard Chartered Trust (Guernsey) Limited of £140,000.  The fine is attributable to historical failures to meet the Minimum Criteria for Licensing in respect of Schedule 1 of The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000.

More details to follow in due course.

https://www.gfsc.gg/news/article/standard-chartered-trust-guernsey-limited