Mr Colin Andrew Borman (Date of Birth 12 May 1972) of Willow, Grand Maison Road, St Sampson, Guernsey, GY2 4JX (2024-10-14)

Summary

This is a public enforcement notice issued by the Guernsey Financial Services Commission (GFSC) announcing a prohibition order made against a named individual, Mr Colin Andrew Borman, under Section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020. It is informational rather than a rule change, recording that a specific person is barred from certain roles for a defined period.

• Who: Mr Colin Andrew Borman, of Willow, Grand Maison Road, St Sampson, Guernsey.
• Prohibited functions: Acting as controller, director, money laundering reporting officer, or money laundering compliance officer.
• Duration: From 14 October 2024 to 14 October 2026.
• Legal basis: Section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020.

The notice itself does not impose new ongoing obligations on the wider industry, but firms should ensure they do not appoint or retain this individual in the listed roles during the prohibition period, consistent with general fit and proper and AML/CFT governance obligations.

Key obligations

• Financial services firms and other regulated entities must not permit Mr Colin Andrew Borman to hold the position of controller, director, money laundering reporting officer, or money laundering compliance officer during the prohibition period from 14 October 2024 to 14 October 2026.

Applies to

financial services businesses, fiduciaries, regulated entities employing controllers, directors, MLROs or MLCOs

Deadlines

• 14 October 2024 to 14 October 2026: Period during which Mr Colin Andrew Borman is prohibited from holding the position of controller, director, money laundering reporting officer, or money laundering compliance officer.