Channel Island Finance Limited, Scott Greaves Carré and Jason Paul Cook (2025-06-26)

Summary

This is a public enforcement statement from the Guernsey Financial Services Commission (GFSC) concerning Channel Island Finance Limited (a lending and loan broking firm) and two individuals, Scott Greaves Carré and Jason Paul Cook. It sets out sanctions imposed on 25 June 2025 following an investigation into the Firm's non-compliance with the conditions of discretionary exemptions granted under the Lending, Credit and Finance Law, and into misconduct by Mr Carré and Mr Cook.

• Financial penalty: A £21,000 financial penalty was imposed on Mr Carré (reduced from £175,000 due to impecuniosity and risk to his creditors); no financial penalty was imposed on Mr Cook.
• Prohibition orders: Mr Carré is prohibited from holding any supervised role for 7 years; Mr Cook is prohibited from holding any supervised role for 2 years and 1 month.
• Exemption disapplication: The Commission disapplied the exemption under section 3(1)(g) of the Fiduciaries Law in respect of both Mr Carré (7 years) and Mr Cook (2 years and 1 month).
• Findings against the Firm: The Firm materially contravened section 40 of the Lending, Credit and Finance Law and section 7 of the Enforcement Powers Law by breaching conditions of its discretionary exemptions and failing to comply with a statutory information notice.
• Findings against Mr Carré: Mr Carré materially contravened sections 7 and 109 of the Enforcement Powers Law by providing false or misleading information to the Commission on multiple occasions and failing to comply with a statutory notice; he was also found not fit and proper.
• Findings against Mr Cook: Mr Cook was found not fit and proper for knowingly misleading a lender about loan sizes, knowingly accepting a prohibited loan, and failing to manage Mr Carré's conflicts of interest.

The statement is retrospective and case-specific: it records concluded enforcement action and sanctions already imposed rather than creating new ongoing compliance obligations for the wider regulated population. It serves as a public record and deterrence signal for other licensees and individuals in supervised roles.

Applies to

lending, credit and finance businesses, credit businesses, individuals holding supervised roles