Publication of a Notice of the fact of a Prohibition Order and a Discretionary Financial Penalty

On 24 April 2026, the Commission imposed a discretionary financial penalty of £35,000 on Mr Patrick Barry Moroney.

In addition, Mr Moroney was prohibited from performing any function on behalf of a regulated entity for a period of 8 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 (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 Mr Moroney for a period of eight years.

The above sanctions were imposed on Mr Moroney as a result of his failure to meet the minimum criteria for licensing.

More details to follow in due course.