Lemma finance boss helped to supply 'false' returns
An investigation by Gibraltar’s Financial Services Commission has condemned the conduct of Lemma Europe’s de factor finance manager, finding he participated in filing returns which falsely indicated the insurer was complying with solvency requirements.
David Brown has not accepted the conclusions, but agreed to accept the FSC's required regulatory outcomes, including agreeing not to assume an approved position with an FSC-licensed entity.
Brown was
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