This is the list of Disqualification Orders where the Commission has made application to the Royal Court under section 427 (1) & (2) of the Companies (Guernsey) Law 2008.
Licensees are required to take reasonable care to ensure that none of their functions, in relation to the carrying on of a regulated activity, is performed by a person who is disqualified from doing so by way of a disqualification order.
Mr Galliers was a director and shareholder of an insurance intermediary licensed under The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002.
Mr Galliers was convicted in March 2016 of 10 counts of fraud by abuse of position contrary to sections 1, 4 and 5 of The Fraud (Bailiwick of Guernsey) Law, 2009 and sentenced to 3 years imprisonment.
On 10 March 2017 the Commission applied to the Royal Court for an order disqualifying Mr Galliers from acting as a director of any Guernsey company. Mr Galliers consented to the making of the disqualification order and the Royal Court ordered that Mr Galliers be disqualified for 12 years.
On 3 May 2017, the Guernsey Financial Services Commission (“the Commission”) applied to the Royal Court of Guernsey under section 427 of The Companies (Guernsey) Law, 2008, to seek disqualification orders against both Mr and Mrs Doyle from acting as a director of any Guernsey company.
On 16 August 2017, the Bailiff handed down his judgment in which he disqualified both Mr Doyle and Mrs Doyle from acting as company directors for a period of 15 years each, which will run from 16 August 2017 until 3 May 2032.
In support of the disqualification application, the Commission relied upon criminal offences of which Mr and Mrs Doyle were convicted in the Royal Court. On 7 September 2015, the Royal Court sentenced Mr and Mrs Doyle by imposing a total of 7½ years imprisonment on Mr Doyle and 3½ years imprisonment on Mrs Doyle. In summary, the offences of which Mr and Mrs Doyle were convicted are serious and the sentences were made up as follows:
1. Mr Doyle:
(a) money laundering;
(b) acquiring, possessing and using the proceeds of crime;
(c) converting the proceeds of criminal conduct;
(d) conducting regulated business activities from within the Bailiwick without a licence, contrary to sections 1 and 2(1)(b) of The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000; and
(e) perverting the course of justice.
2. Mrs Doyle:
(a) acquiring, possessing and using the proceeds of crime;
(b) converting the proceeds of criminal conduct;
(c) conducting regulated business activities from within the Bailiwick without a licence, contrary to sections 1 and 2(1)(b) of The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000; and
(d) perverting the course of justice.
As explained by the Royal Court, Mr and Mrs Doyle’s past conduct demonstrated a lack of probity, competence and soundness of judgement for fulfulling the responsibilities of an officer of a company; they also conducted regulated business activities within the Bailiwick without a license. Therefore, it was in the public interest that Mr and Mrs Doyle should be disqualified for as long as possible.
The Royal Court also stated that the purpose of a disqualification order is not simply to punish the person concerned but to protect the public.
The Commission welcomes the decision, which will assist in further protecting the public and the reputation of the Bailiwick as a financial centre.