It has recently come to the attention of the Commission that Joseph Coutts, the former shareholder and managing director of St James Global Limited, may be trading as an insurance intermediary under the name St James Global from Monaco. The Commission understands that he may be trying to contact former clients of St James Global Limited to promote new products. St James Global Limited is a Guernsey company that was previously licensed to undertake insurance intermediary business. The Commission understands that there is also a legitimate South African company called St James Global Financial Services Pty Limited.
The public should be aware that St James Global Limited was placed into compulsory liquidation by the Royal Court on 20 December 2006 and the Guernsey Financial Services Commission revoked its licence to act as an insurance intermediary in or from within Guernsey on 20 December 2007.
The public should be aware that Mr Coutts was convicted in December 2006 of attempting to obtain money by deception. He was also disqualified for 11 years by the Royal Court in Guernsey in October 2007 from being a director or other officer of any Guernsey company and from participating in, or being in any way concerned in, directly or indirectly, the management, formation or promotion of any Guernsey company.
Note: For further details of Mr Coutts’ disqualification, please refer to the Commission’s press release of 15 October 2007 found here.