GFSC issue £30k fine on an individual
08/08/2023
On the 4th day of August 2023, the Commission imposed a discretionary financial penalty as follows:
Mr. Paul Conway (“Mr. Conway”) a financial penalty of £30,000.
Further, on the above date, the Commission imposed a prohibition as follows:
- Mr. Conway is prohibited from all functions under each of the regulatory laws for a period of three 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 (the “Fiduciaries Law”) (which would otherwise permit those prohibited to act as a director of not more than six companies) has also been disciplined in respect of Mr. Conway for a period of three years.
The above sanctions have been imposed on Mr. Conway following his failure to meet the Minimum Criteria for Licensing as set out in Schedule 1 to the Fiduciaries, Law.
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.