Enforcement Action

Name: Brett Sinclair Armitage

Previous names:

Date of birth: 6 June 1977

Address (at date of the prohibition): No 1 Sunnybank, West Baldwin, Isle of Man IM4 5HD

Particulars of prohibition: Mr Armitage is prohibited from;

• performing any controlled function[1] and/or key person roles (or equivalent) in the regulated sector in the isle of Man pursuant to section 10A of the Financial Services Act 2008; and
• being a member of the governing body of any scheme pursuant to section 11B of the Collective Investment Schemes Act 2008.

Public statement: Yes

Date on which the prohibition takes effect: 24 November 2021

[1] As set out in Appendix 2 to the Authority’s Regulatory Guidance Fitness and Propriety 20 July 2020.

Name: Matthias Dieter Bolliger

Previous names:

Date of birth: 25 July 1978

Address (at date of the prohibition): 29 Bd d’Italie, Monaco 98000

Particulars of prohibition: Mr Bolliger is prohibited from;

• performing any controlled function[1] in relation to any regulated activity carried on, or proposed to be carried on, by Bridgewater (IOM) Limited (“Bridgewater”) (excluding the specific role of ‘controller’[2]) pursuant to section 10A of the Financial Services Act 2008;
• being a member of the governing body of a scheme pursuant to section 11B of the Collective Investment Schemes Act 2008 where such scheme is managed and/or administered by Bridgewater;
• any controlled function or key person role (or equivalent) for any entity undertaking regulated activity in or from the Isle of Man where: (i) that entity is exempt from requiring a licence pursuant to the Financial Services (Exemption) Regulations 2011; and (ii) such entity is managed and/or administered by Bridgewater (for example, a private trust company).

Public statement: Yes

Date on which the prohibition takes effect: 24 November 2021

[1] As set out in Appendix 2 to the Authority’s Regulatory Guidance Fitness and Propriety 20 July 2020.

[2] A controlled function of R1 and/or R3 as set out in Appendix 2 to the Authority’s Regulatory Guidance Fitness and Propriety 20 July 2020

Name: Gerald Chase

Previous names:

Date of Birth: 10 June 1951

Address (at date of the prohibition): 64 Buttermere Drive, Onchan IM3 2EA

Particulars of prohibition: Mr Chase is prohibited from:

a) performing any controlled function[1] and/or key person roles for any Permitted Person, which holds a licence issued in accordance with section 7 of the Financial Services Act 2008 permitting it to undertake in and/or from the Isle of Man certain regulated activities within classes 4 and 5 as further described in the Regulated Activities Order 2011 (as amended), pursuant to section 10A of the Financial Services Act 2008;

b) from performing any of the following controlled function and/or key person roles (or equivalent) in the regulated sector in the Isle of Man pursuant to each of section 10A of the Financial Services Act 2008 and section 29A of the Insurance Act 2008:

i. the role of ‘director’[2] for any entity licensed, approved or authorised by the Authority;

ii. the role of ‘company secretary’[3] for any entity licensed, approved or authorised by the Authority;

iii. the role of ‘head of compliance’[4] for any entity licensed, approved or authorised by the Authority;

iv. the role of ‘money laundering reporting officer’[5] for any entity licensed, approved or authorised by the Authority;

v. the role of ‘deputy money laundering reporting officer’[6] for any entity licensed, approved or authorised by the Authority; and

vi. the role of ‘principal control officer’[7] for any entity authorised, permitted or registered under the Insurance Act 2008 in so far as it applies to the roles detailed at 4.1.b.(i) to (v).

Public statement:  Yes

Date on which prohibition takes effect: 20 December 2022

[1] As set out in Appendix 2 of the Authority’s Regulatory Guidance Fitness and Propriety 1 March 2022.

[2] Controlled function R4 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[3] Controlled function R9 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[4] Controlled function R13 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[5] Controlled function R14 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[6] Controlled function R16 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[7] Controlled function R12 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022, as further defined in section 54 of the Insurance Act 2008

Name: Paul Chase

Previous names:

Date of Birth: 3 April 1977

Address (at date of the prohibition): 8 Hilltop Rise, Douglas, IM2 2LF

Particulars of prohibition: Mr Chase is prohibited from:

a) performing any controlled function[1] and/or key person roles for any Permitted Person, which holds a licence issued in accordance with section 7 of the Financial Services Act 2008 permitting it to undertake in and/or from the Isle of Man certain regulated activities within classes 4 and 5 as further described in the Regulated Activities Order 2011 (as amended), pursuant to section 10A of the Financial Services Act 2008;

b) from performing any of the following controlled function and/or key person roles (or equivalent) in the regulated sector in the Isle of Man pursuant to each of section 10A of the Financial Services Act 2008 and section 29A of the Insurance Act 2008:

i. the role of ‘director’[2] for any entity licensed, approved or authorised by the Authority;

ii. the role of ‘company secretary’[3] for any entity licensed, approved or authorised by the Authority;

iii. the role of ‘head of compliance’[4] for any entity licensed, approved or authorised by the Authority;

iv. the role of ‘money laundering reporting officer’[5] for any entity licensed, approved or authorised by the Authority;

v. the role of ‘deputy money laundering reporting officer’[6] for any entity licensed, approved or authorised by the Authority; and

vi. the role of ‘principal control officer’[7] for any entity authorised, permitted or registered under the Insurance Act 2008 in so far as it applies to the roles detailed at 4.1.b.(i) to (v).

Public statement:  Yes

Date on which prohibition takes effect: 20 December 2022

[1] As set out in Appendix 2 of the Authority’s Regulatory Guidance Fitness and Propriety 1 March 2022.

[2] Controlled function R4 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[3] Controlled function R9 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[4] Controlled function R13 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[5] Controlled function R14 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[6] Controlled function R16 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[7] Controlled function R12 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022, as further defined in section 54 of the Insurance Act 2008

Name: Suzanne Margaret Collins

Previous names:

Date of Birth: 12 August 1962

Address (at date of the prohibition): Cronk-My-Chree, Main Road, Colby, IM9 4AE

Particulars of prohibition: Mrs Collins is prohibited from:

performing any of the following controlled functions^[1] and/or key person roles (or equivalent) in the regulated sector in the Isle of Man pursuant to each of section 10A of the Financial Services Act 2008 and section 29A of the Insurance Act 2008:

a) the role of ‘head of compliance’^[2] for any entity licensed, approved or authorised by the Authority;

b) the role of ‘money laundering reporting officer’^[3] for any entity licensed, approved or authorised by the Authority;

c) the role of ‘deputy money laundering reporting officer’^[4] for any entity licensed, approved or authorised by the Authority; and

d) the role of ‘principal control officer’^[5] for any entity authorised, permitted or registered under the Insurance Act 2008 in so far as it applies to the roles detailed at a) to c) above.

Public statement:  Yes

Date on which prohibition takes effect: 5 October 2022

[1] As set out in Appendix 2 to the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022.

[2] Controlled function R13 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[3] Controlled function R15 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[4] Controlled function R16 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[5] Controlled function R12 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022, as further defined in section 54 of the Insurance Act 2008

Name: Anthony Thomas Cooke

Previous names:

Date of Birth: 17 September 1971

Last known Address (at date of the prohibition): 1 Aspden Drive, Peel, Isle of Man IM5 1WS

Particulars of prohibition: Mr Cooke is prohibited from:

1. a prohibition from performing any controlled function[1] and/or key person role (or equivalent) in relation to any regulated activity carried on, or proposed to be carried on, by a permitted person pursuant to section 10A of the Financial Services Act 2008;
2. a prohibition from performing any controlled function and/or key person role (or equivalent) in relation to any activity carried on, or proposed to be carried on, by an authorised insurer, a registered insurance manager or a registered insurance intermediary pursuant to section 29A of the Insurance Act 2008; and
3. a prohibition from being a member of the governing body of a scheme pursuant to section 11B of the Collective Investment Schemes Act 2008.

Public statement:  Yes

Date on which prohibition takes effect: 2 January 2023

[1] As set out in Appendix 2 to the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2023.

Name: Stephen Paul Corran

Previous names:

Date of birth: 26 September 1978

Address (at date of the prohibition): 28 Birch Hill Crescent, Onchan, Isle of Man IM3 3DJ

Particulars of prohibition: Mr Corran is prohibited from;

• performing any controlled function[1] in relation to any regulated activity carried on, or proposed to be carried on, by Bridgewater (IOM) Limited (“Bridgewater”) (excluding the specific role of ‘financial controller’[2]) pursuant to section 10A of the Financial Services Act 2008;
• being a member of the governing body of a scheme pursuant to section 11B of the Collective Investment Schemes Act 2008 where such scheme is managed and/or administered by Bridgewater;
• any controlled function or key person role (or equivalent) for any entity undertaking regulated activity in or from the Isle of Man where: (i) that entity is exempt from requiring a licence pursuant to the Financial Services (Exemption) Regulations 2011; and (ii) such entity is managed and/or administered by Bridgewater (for example, a private trust company); and
• undertaking the controlled function of ‘head of compliance’ for any entity/person licensed, approved or authorised by the Authority.

Public statement: Yes

Date on which the prohibition takes effect: 24 November 2021

[1] As set out in Appendix 2 to the Authority’s Regulatory Guidance Fitness and Propriety 20 July 2020.

[2] A controlled function of R18 and/or R19 as set out in Appendix 2 to the Authority’s Regulatory Guidance Fitness and Propriety 20 July 2020

Name: Stephen David Cryer

Previous names:

Date of Birth: 24 January 1964

Address (at date of the prohibition): 21 Brimstage Road, Tunstall, Heswell, Wirral, United Kingdom, CH60 1XA

Particulars of prohibition: Mr Cryer is prohibited from:

• performing any function in relation to any regulated activity carried on, or proposed to be carried on, by a permitted person pursuant to section 10A of the Financial Services Act 2008;
• performing any function in relation to any activity carried on, or proposed to be carried on, by an authorised insurer, a registered insurance manager or a registered insurance intermediary insurance business, an insurance manager or an insurance intermediary pursuant to section 29A of the Insurance Act 2008; and
• being a member of the governing body of a scheme pursuant to section 11B of the Collective Investment Schemes Act 2008.

Public statement: Yes

Date on which prohibition takes effect: 22 October 2020

Name: Richard Maurice Dixon

Previous names:

Date of Birth: 9 Mar 1958

Address (at date of the prohibition): Mount Auldyn House, Jurby Road, Ramsey, Isle of Man, IM8 3PF

Particulars of prohibition:  In relation to any body corporate carrying on, in or from the Isle of Man, any regulated activity as defined in section 3 of the Financial Services Act 2008, Mr Dixon is prohibited from acting as:

• a director (as defined in section 48 of the FSA);
• Isle of Man Resident Officer (as defined in Rule 8.21(2) of the Financial Services Rulebook 2013);
• Money Laundering Reporting Officer or deputy Money Laundering Reporting Officer (as defined under paragraph 3 of the Anti-Money Laundering and Countering the Financing of Terrorism Code 2015); or,
• Compliance Officer (as referred to in Rule 8.18 of the Financial Services Rulebook 2013).

Public statement under Section 13 of the FSA: Yes

Date on which prohibition takes effect: 19 Apr 2017

Name: Heather Ann Kent

Previous names:

Date of Birth: 13 March 1960

Address (at date of the prohibition): Vaujany, Hillberry Green, Douglas, Isle of Man, IM2 6DE

Particulars of prohibition: Ms Kent is prohibited from:

8. performing any controlled function^[1] and/or key person roles (or equivalent) for any entity licensed, approved, registered or authorised by the Authority pursuant to section 10A of the FSA08 and section 29A of the IA08. For the avoidance of any doubt this includes the role of ‘principal control officer’^[2] for any entity licensed, approved, registered or authorised under the IA08; and
9. being a member of the governing body of any scheme pursuant to section 11B of the CISA08 (collectively the “Prohibition”).

Public statement:  Yes

Date on which prohibition takes effect: 5 January 2024

[1] As set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2023.

[2] Controlled function R-12 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2023, as further defined in section 54 of the IA08.

Name: Brian Charles James Monk

Previous names:

Date of Birth: 10 Apr 1953

Address (at date of the prohibition): Windrift, Thornhill Park, Ramsey, Isle of man IM8 3NB

Particulars of prohibition: In relation to any body corporate carrying on, in or from the Isle of Man, any regulated activity as defined in section 3 of the Financial Services Act 2008, Mr Monk is prohibited from acting as:

• a director (as defined in section 48 of the FSA);
• Isle of Man Resident Officer (as defined in Rule 8.21(2) of the Financial Services Rulebook 2013);
• Money Laundering Reporting Officer or deputy Money Laundering Reporting Officer (as defined under paragraph 3 of the Anti-Money Laundering and Countering the Financing of Terrorism Code 2015); or,
• Compliance Officer (as referred to in Rule 8.18 of the Financial Services Rulebook 2013).

Public statement under Section 13 of the FSA: Yes    

Date on which prohibition takes effect: 7 November 2017

Name: Gordon John Mundy

Previous names:

Date of Birth: 23 December 1954

Address (at date of the prohibition): 48 Selbourne Drive, Douglas, Isle of Man IM2 3NH

Particulars of prohibition: Mr Mundy is prohibited from:

• performing any controlled function[1] and/or key person roles (or equivalent) for any entity licensed, approved, registered or authorised by the Authority pursuant to section 10A of the Financial Services Act 2008 and section 29A of the Insurance Act 2008. For the avoidance of any doubt this includes the role of ‘principal control officer’[2] for any entity licensed, approved, registered or authorised under the Insurance Act 2008; and
• being a member of the governing body of any scheme pursuant to section 11B of the Collective Investment Schemes Act 2008.

Public statement:  Yes

Date on which prohibition takes effect: 30 November 2023

[1] As set out in Appendix 2 of the Authority’s Regulatory Guidance Fitness and Propriety 1 March 2023.

[2] Controlled function R12 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2023, as further defined in section 54 of the Insurance Act 2008

Name: Lee John Bernard Murphy

Previous names:

Date of Birth: 6 February 1976

Address (at date of the prohibition): 150 Woodbourne Road. Douglas, Isle of Man IM2 3BD

Particulars of prohibition: Mr Murphy is prohibited from:

a) performing any controlled function[1] and/or key person roles for any Permitted Person, which holds a licence issued in accordance with section 7 of the Financial Services Act 2008 permitting it to undertake in and/or from the Isle of Man certain regulated activities within classes 4 and 5 as further described in the Regulated Activities Order 2011 (as amended), pursuant to section 10A of the Financial Services Act 2008;

b) from performing any of the following controlled function and/or key person roles (or equivalent) in the regulated sector in the Isle of Man pursuant to each of section 10A of the Financial Services Act 2008 and section 29A of the Insurance Act 2008:

i. the role of ‘director’[2] for any entity licensed, approved or authorised by the Authority;

ii. the role of ‘company secretary’[3] for any entity licensed, approved or authorised by the Authority;

iii. the role of ‘head of compliance’[4] for any entity licensed, approved or authorised by the Authority;

iv. the role of ‘money laundering reporting officer’[5] for any entity licensed, approved or authorised by the Authority;

v. the role of ‘deputy money laundering reporting officer’[6] for any entity licensed, approved or authorised by the Authority; and

vi. the role of ‘principal control officer’[7] for any entity authorised, permitted or registered under the Insurance Act 2008 in so far as it applies to the roles detailed at 4.1.b.(i) to (v).

Public statement:  Yes

Date on which prohibition takes effect: 20 December 2022

[1] As set out in Appendix 2 of the Authority’s Regulatory Guidance Fitness and Propriety 1 March 2022.

[2] Controlled function R4 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[3] Controlled function R9 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[4] Controlled function R13 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[5] Controlled function R14 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[6] Controlled function R16 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022

[7] Controlled function R12 as set out in the Authority’s Regulatory Guidance titled ‘Fitness and Propriety’ dated 1 March 2022, as further defined in section 54 of the Insurance Act 2008

Name: Greg Nicholas Taylor

Previous names:

Date of Birth: 20 April 1989

Address (at date of the prohibition): c/o HM Prison, Jurby, Isle of Man

Particulars of prohibition: Mr Taylor is prohibited from:

• performing any function in relation to activity carried on, or proposed to be carried on, by an authorised insurer, a registered insurance manager or a registered intermediary insurance business, an insurance manager or an insurance intermediary pursuant to section 29A of the Insurance Act 2008;
• performing any function in relation to any regulated activity carried on, or proposed to be carried on, by a permitted person pursuant to section 10A of the Financial Services Act 2008;
• being a member of the governing body of a scheme pursuant to section 11B of the Collective Investment Schemes Act 2008;
• undertaking any controlled function;
• engaging in any function within a business in the regulated sector that allows Mr Taylor to handle, access or exercise control over any client’s money or client’s assets (including, without limitation, trust money and trust assets);
• undertaking any function within a business in the regulated sector that allows Mr Taylor to handle, access or exercise control over any monetary or other assets of that business.

Public statement: Yes

Date on which prohibition takes effect: 25 September 2020

Name: Louise Young

Previous names:

Date of birth: 18 May 1972

Address (at date of the prohibition: 18 Tynwald Close, Castletown IM9 1BU

Particulars of prohibition: Ms Young is prohibited from:

• performing any function in relation to activity carried on, or proposed to be carried on, by an authorised insurer, a registered insurance manager or a registered intermediary insurance business, an insurance manager or an insurance intermediary pursuant to section 29A of the Insurance Act 2008;
• performing any function in relation to any regulated activity carried on, or proposed to be carried on, by a permitted person pursuant to section 10A of the Financial Services Act 2008;
• being a member of the governing body of a scheme pursuant to section 11B of the Collective Investment Schemes Act 2008;
• undertaking any controlled function;
• engaging in any function within a business in the regulated sector that allows Ms Young to handle, access or exercise control over any client’s money or client’s assets (including, without limitation, trust money and trust assets);
• undertaking any function within a business in the regulated sector that allows Ms Young to handle, access or exercise control over any monetary or other assets of that business.

Public statement: No

Date on which the prohibition takes effect: 6 November 2020