Mr Antonio Carlos de Godoy Buzaneli, Mr Jose Manuel Ordoñez and Mr Jose Eduardo Paula de Lima Araujo

25th March 2021

On the 4th day of March 2021 the Commission imposed a discretionary financial penalty of £55,000 on Mr Jose Eduardo Paula de Lima Araujo. 

In addition, Mr Araujo, together with Mr Antonio Carlos de Godoy Buzaneli and Mr Jose Manuel Ordoñez (collectively the “Individuals”) were prohibited from performing any function on behalf of a regulated entity.  The exemption set out in section 3(1)(g) of the Regulation of Fiduciaries, Administration Business and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 (which would otherwise permit an individual to act as a director of not more than six companies without a fiduciary licence) has also been disapplied in respect of the Individuals.

These sanctions were imposed on the above named persons as a result of their failure to meet the minimum criteria for licensing.

More details to follow in due course.