Guernsey Financial Services Commission v (1) Robin Fuller (2) Adam Tattersall (3) Patrick Moroney [2025] GCA071

Summary

This is a Guernsey Court of Appeal judgment in enforcement proceedings brought by the GFSC against three former Providence Group individuals following the collapse of that Ponzi scheme. The Court of Appeal reviews the GFSC's original 2021 sanctions decision and the Royal Court's 2024 judgment on appeal, addressing procedural fairness, Article 6 ECHR compliance, and the correct legal tests for findings and sanctions under the (now repealed) regulatory laws.

• Outcome: The Court of Appeal sustains several of the GFSC's grounds of appeal and some of the Respondents' cross-appeal grounds, dismisses others, and remits the case to the Royal Court for further consideration before an eventual remittal to the GFSC.
• Legal framework discussed: The judgment sets out the GFSC's powers under the FSC Law (sections 11C to 11H) to publish statements, impose financial penalties (up to a statutory maximum, here £200,000), and make prohibition orders against licensees, former licensees and relevant officers found not to meet minimum licensing criteria or not to be fit and proper persons.
• Procedural requirements reaffirmed: Before making such decisions the GFSC must serve written notice of the proposed decision and grounds, allow 28 days for representations, consider those representations, and then serve notice of any final decision with reasons and appeal rights.
• Human rights finding: The Court finds a breach of Article 6 ECHR arising from the duration of the Royal Court proceedings and directs the Royal Court to consider whether a declaration suffices as just satisfaction or whether the GFSC must adjust sanctions accordingly.
• Remittal directions: The Royal Court must reconsider a specific inadequately reasoned paragraph of its earlier judgment, and must determine for each Respondent whether surviving findings compel a conclusion on minimum licensing criteria and seriousness, or whether those questions must be remitted to the GFSC.

This is a case-specific judicial decision resolving an enforcement appeal rather than a new rule, guidance or notice of general application. It does not itself create new ongoing compliance obligations for the wider regulated population, but it clarifies how the GFSC's statutory enforcement procedures (notice, representations, appeal grounds) must operate and will determine the eventual sanctions against the three named individuals.

Applies to

licensees, former licensees, relevant officers, individuals subject to prohibition orders under the repealed Regulatory Laws