Merrien, David John (Date of Birth 26 February 1969) of Goldridge House, Les Fauconnaires, St Andrews, Guernsey, GY6 8UE (2014-12-03)

Summary

This is a public enforcement notice from the Guernsea Financial Services Commission (GFSC) recording a prohibition order made against David John Merrien on 3 December 2014. The order bars him from performing specified functions across multiple regulated sectors in the Bailiwick of Guernsey.

• Investment business: Prohibited from any function relating to controlled investment business carried on by an entity licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 1987.
• Banking: Prohibited from any function relating to deposit-taking business carried on by or for a licensed institution under the Banking Supervision (Bailiwick of Guernsey) Law, 1994.
• Fiduciary services: Prohibited from any function relating to a regulated activity carried on by or for a licensed fiduciary under the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000.
• Insurance business: Prohibited from any function relating to insurance business carried on by or for a licensed insurance business under the Insurance Business (Bailiwick of Guernsey) Law, 2002.
• Insurance management and intermediation: Prohibited from any function relating to the business of an insurance manager or insurance intermediary under the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002.

The notice is informational, publicising the scope of an individual prohibition order rather than imposing new rules on the industry generally. Licensed entities across these sectors should be aware that they may not engage Merrien in the prohibited functions.

Key obligations

• Licensed institutions, fiduciaries, insurers, insurance managers and intermediaries, and Protection of Investors Law licensees must not permit David John Merrien to perform the specified prohibited functions from 3 December 2014 onward.

Applies to

entities licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 1987, licensed deposit-taking institutions under the Banking Supervision (Bailiwick of Guernsey) Law, 1994, licensed fiduciaries under the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000, licensed insurance businesses under the Insurance Business (Bailiwick of Guernsey) Law, 2002, insurance managers and insurance intermediaries under the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002

Deadlines

• 3 December 2014: Date from which each of the five prohibition orders against David John Merrien takes effect.