Ms Pippa Marie Harbour (2009-12-22)

Summary

This is a public statement issued by the Guernsey Financial Services Commission (GFSC) on 22 December 2009 announcing prohibition orders made on 22 October 2009 against Ms Pippa Marie Harbour. It is the first public statement made under the Commission's public statement powers, which took effect in 2008.

• Scope of prohibition: Ms Harbour is prohibited from acting as a director, controller, partner, manager, general representative or authorised insurance representative in a controlled investment business, a deposit taking (banking) business, a fiduciary business undertaking regulated activities, or an insurance business, insurance manager or insurance intermediary business.
• Grounds: The Commission found Ms Harbour not fit and proper because she provided false information, including falsely claiming an MBA and membership of the Securities and Investment Institute, failed to disclose a former name, and gave inconsistent birth dates on Personal Questionnaire forms.
• Effect on regulated businesses: Regulated finance businesses in Guernsey must take reasonable care to ensure none of their regulated functions are performed by Ms Harbour, as it would be an offence for her to act in breach of the prohibition orders and for a business to allow this.
• Wider message: The Commission highlights the importance of employee screening obligations under Guernsey's anti-money laundering and countering the financing of terrorism framework, and warns that false statements about qualifications or integrity issues will be investigated and acted upon.

This is a historic enforcement notice rather than a rule of general application; it creates no new ongoing regulatory requirement beyond the existing duty of regulated businesses not to employ a prohibited person in a prohibited capacity.

Key obligations

• Regulated finance businesses must take reasonable care to ensure that none of their functions relating to a regulated activity are performed by Ms Pippa Marie Harbour, who is prohibited from acting as a director, controller, partner, manager, general representative or authorised insurance representative in investment, banking, fiduciary or insurance businesses.
• Ms Harbour must not perform, or agree to be employed in, any of the prohibited roles in relation to a regulated activity carried on by a regulated finance business.
• Any person with information indicating a breach of the prohibition orders is asked to contact the Commission's Fiduciary and Intelligence Services Division.

Applies to

controlled investment businesses, deposit-taking (banking) businesses, fiduciary businesses undertaking regulated activities, insurance businesses, insurance managers, insurance intermediaries, individuals working in regulated financial services businesses