The Guernsey [GFSC] issues fines [£110,000.00] against investment firm and directors
12/06/2020
On 4 May 2020, the Guernsey [GFSC] issues fines [£110,000.00] against Criteria Wealth Management Limited (“a discretionary penalty of £50,000 ”), Mr Mark Peter Penney (“£40,000”), and Mr Marc Adam Roxby (“£20,000”).
The fines are attributable to the following failings:-
- Conducting unlicensed business in Structured Notes
- Whether CWM provided suitable Advice and Information to its clients about Structured Notes
- Whether CWM provided suitable advice to Client X
- Conflicts of interest concerning the private sale of CWM shares by Mr Penney to Client X
- CWM’s Records were insufficient in many cases to show the provision of suitable advice to other clients
https://lnkd.in/enY3smP
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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.