Shane Younger and Christopher Percival
Shane Younger and Christopher Percival
The Guernsey Financial Services Commission imposed financial penalties on Mr. Younger and Mr. Percival, non-executive directors and majority shareholders of Global Insurance Group Limited, for failing to implement effective control systems, ensure timely payments, and adequately assess risks.
On 10 July 2020, the Guernsey Financial Services Commission (the "Commission") decided to make a public statement under section 11C of the Financial Services Commission Law and to impose a financial penalty of:
�48,650 under section 11D of the Financial Services Commission Law on Mr. Younger; and
�30,100 under section 11D of the Financial Services Commission Law on Mr. Percival.
Mr. Younger and Mr. Percival were non-executive directors and the majority shareholders of Global Insurance Group Limited ("GIGL").
Mr. Younger and Mr. Percival failed to:
ensure the implementation of effective systems of control;
ensure payments were made in a timely manner; and
adequately consider and assess the risks associated with a United Kingdom Intermediary.
To view this notification in full, please click here.
If you have concerns about the effectiveness of your controls and risk management, please contact the Advisory team at Aspida via info@aspidagroup.com.
```
