FSA Board Members on the Beneficial Ownership register


Authority	[[isle-of-man-financial-services-authority
Date received	2018-07-09
Outcome	No information sent - all held but exempt
Outcome date	2018-07-19
Topic	[[financial-services-regulation

Summary

The requester asked if FSA Chair Lillian Boyle or former Chair Geoff Karran were beneficial owners of RL360 Holding Company Limited. The FSA confirmed neither held reportable investments in the company, though the specific beneficial ownership data was withheld as absolutely exempt under the Beneficial Ownership Act 2017.

Key Facts

Lillian Boyle (current FSA Chair) does not hold any investment in RL360 Holding Company Limited exceeding the reporting threshold.
Geoff Karran (former FSA Chair) did not hold any investment in RL360 Holding Company Limited exceeding the reporting threshold at the date of his retirement.
No closely connected parties of either Boyle or Karran hold such investments in the company.
The FSA is prohibited from disclosing specific beneficial ownership data to the public under Section 26 and 27 of the Beneficial Ownership Act 2017.
Small personal shareholdings below reporting thresholds are considered personal data and exempt under the Data Protection Act 2002.

Data Disclosed

522934
2018-07-09
2018-07-19
2018-07-18
£13k
5%
2006 Company Act
2017
2015
2002

Exemptions Cited

Beneficial Ownership Act 2017 Section 26
Beneficial Ownership Act 2017 Section 27
Freedom of Information Act 2015 Section 27
Data Protection Act 2002
Freedom of Information Act 2015 Section 25(b)(i)

Original Request

As the FSA oversee the Beneficial Ownership register, it creates a conflict of interest if their executives are themselves registered beneficial owners.