On 11 October the Commission applied pursuant to section 67A of the Companies (Guernsey) Law, 1994, as amended, to the Royal Court for an order prohibiting Mr Joseph Coutts from being a director or other officer of any company and from participating in, or being in any way concerned in, directly or indirectly, the management, formation or promotion of any company . Mr Coutts was a director of St James Global Limited, an insurance intermediary, licensed under The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002.
The Commission produced evidence regarding Mr Coutts’ conviction for making a fraudulent motor insurance claim, his breach of bail in connection with those criminal proceedings and other concerns including the financial position of St James Global Limited.
The Royal Court was unanimous in its decision that Mr Coutts was unfit to be concerned in the management of a company and that it was in the public interest that he should be disqualified and that he should be disqualified for a term of 11 years. The maximum term of disqualification is 15 years.
The Commission took this action as part of their general function to protect the reputation of the Bailiwick as a finance centre, to act to counter financial crime and for the protection of the public interest.