Yacht management firm rapped over breaches

A yacht management company in Douglas committed six offences when it didn't reveal the beneficial owner of six companies.

The Financial Services Authority says Hill Robinson Limited, which has offices on Athol Street in Douglas, was inspected last July.

It found although the company had found the beneficial owner of a series of companies it dealt with, it hadn't given the details to the Department for Enterprise.

The FSA says HRL committed six separate offences which each carry a fine of up to £5,000, but hasn't announced any financial penalty.