Commission moves to protect investors

The Guernsey Financial Services Commission, acting to protect the interests of investors and pursuant to powers granted to it under the Protection of Investors (Administration and Intervention) (Bailiwick of Guernsey) Ordinance of 2008, today made an application to the Court to have administrators appointed to a number of Guernsey authorised investment schemes.

As a result of that application, the Court appointed Grant Thornton Limited as the Administrator of the Global Mutual Fund PCC Limited, Worldwide Mutual Fund PCC Limited and Universal Mutual Fund Limited.

As part of the same proceedings, applications were also made for the appointment of administrators to the Trinity Global Fund and Lancelot Management Limited. These applications will be determined by the Court at a later date.