On 3 May, Guernsey Press reported that the financial services regulator has been accused of seeking to be ‘firm’ rather than ‘fair’ in its approach to enforcement of a local trust company by the Royal Court. It had imposed lengthy directorship bans and big fines on 3 senior figures at locally-owned trust company Artemis Trust in July 2022. Now a judge has struck down the bans and suggested that the fines should be reduced, before sending a warning shot to the GFSC about its approach.
https://guernseypress.com/news/2023/05/03/judge-overturns-gfscs-bans-on-finance-directors/
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