The Guernsey Financial Services Commission imposed enforcement sanctions on Mr Patrick Barry Moroney, including a discretionary financial penalty of GBP 35,000 and an eight-year prohibition on performing any function on behalf of a regulated entity. For the same eight-year period, the Commission also disapplied in respect of Mr Moroney the exemption in section 3(1)(g) of the Regulation of Fiduciaries, Administration Business and Company Directors, etc (Bailiwick of Guernsey) Law, 2020, which would otherwise allow an individual to act as a director of no more than six companies without a fiduciary licence. The sanctions were imposed due to his failure to meet the minimum criteria for licensing. The Commission indicated that further details will follow in due course.
Guernsey Financial Services Commission 2026-04-27
Guernsey Financial Services Commission fines Patrick Barry Moroney and bans him from regulated roles for eight years
The Guernsey Financial Services Commission has imposed enforcement sanctions on Patrick Barry Moroney, including a GBP 35,000 financial penalty and an eight-year prohibition on performing any function for a regulated entity. For the same period, it has also disapplied the section 3(1)(g) exemption under the Regulation of Fiduciaries, Administration Business and Company Directors, etc (Bailiwick of Guernsey) Law, 2020, due to his failure to meet minimum licensing criteria.