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The GFSC struck again with a £40k fine.


On 26th September 2023, the Commission imposed a £40,000 discretionary financial penalty on Mrs Linda Dowding (“Mrs Dowding”)  

Further, the Commission imposed the following prohibitions:

  • Mrs Dowding is prohibited from holding the position of shareholder, controller, director, partner, manager, money laundering reporting officer and money laundering compliance officer under each regulatory law for three years.
  • The exemption set out in section 3(1)(g) of The Regulation of Fiduciaries, Administration Business and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the “Fiduciaries Law”) (which would otherwise permit those prohibited to act as a director of not more than six companies) has also been disapplied in respect of Mrs Dowding for a period of three years.

The above sanctions have been imposed on Mrs Dowding following her failure to meet.

  • The Minimum Criteria for Licensing as set out in Schedule 1 to the Fiduciaries Law.

The GFSC says they will follow up with more details in the future.



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