Shane Younger and Christopher Percival

On 10 July 2020, the Guernsey Financial Services Commission (the “Commission”) decided to make a public statement under section 11C of the Financial Services Commission Law & to impose a financial penalty of;

  • £48,650 under section 11D of the Financial Services Commission Law on Mr Younger; and
  • £30,100 under section 11D of the Financial Services Commission Law on Mr Percival.

Mr Younger and Mr Percival were non-executive directors and the majority shareholders of Global Insurance Group Limited (“GIGL”).

Mr Younger & Mr Percival, failed to:

  • ensure the implementation of effective systems of control;
  • ensure payments were made in a timely manner; and
  • adequately consider & assess the risks associated with a United Kingdom Intermediary.

To view this notification in full, please click here.

If you have concerns about the effectiveness of your controls & risk management please contact the Advisory team at Aspida via info@aspidagroup.com

Your partner in protecting and growing your business

Subscribe to receive our latest news, views and event information