PRESS RELEASE 15 December 2014
MR CRAIG STUART CAMERON
Mr Craig Stuart Cameron, born 19 April 1968, of No. 15 Les Ormes, Mont à la Brune, St. Brelade, Jersey, JE3 8FL, was the subject of a Final Notice (the “Notice”), dated 29 August 2014, issued by the Financial Conduct Authority (the “FCA”) http://www.fca.org.uk/your-fca/documents/final-notices/2014/craig-stuart-cameron
The Notice states Mr Cameron’s conduct demonstrates a lack of honesty and integrity (para 7.15) and concludes he is not a fit and proper to perform any function in relation to any regulated activity carried on by an authorised person, exempt person or exempt professional firm (para 7.16) in the United Kingdom. In addition, Mr Cameron was subject to a financial penalty of £350,000.
The Jersey Financial Services Commission (the “Commission”) regards the findings against Mr Cameron and the conclusions set out by the FCA in its Notice to be most serious. In Jersey, the Financial Services (Jersey) Law 1998 and other regulatory laws contain similar provisions requiring key and principal persons to be fit and proper.
Mr Cameron was previously approved by the Commission as a principal person in respect of Global Media Rights Limited (the “Fund”) under the Collective Investment Funds (Jersey) Law, 1988. Mr Cameron resigned and ceased to act as a director of the Fund with effect from 1 September 2014. Accordingly, Mr Cameron is no longer approved by the Commission to act as a key or principal person of any entity regulated by the Commission.
In future, should Mr Cameron apply to act as a key or principal person, the Commission will take into account the findings set out in the Notice referred to above when considering whether he is a fit and proper person in accordance with the provisions of the relevant regulatory law under which he is applying.
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For further information please contact: -
Barry Faudemer - Director, Enforcement
Jersey Financial Services Commission
Tel: + 44 (0) 1534 822137
Fax: + 44 (0) 1534 822001