Financial Services (Jersey) Law 1998 (FS(J)L)
Banking Business (Jersey) Law 1991 (BB(J)L)
Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 (Supervisory Bodies Law)
Proceeds of Crime (Jersey) Law 1999 (POC(J)L)
Issued: 22 October 2021
The JFSC issues this public statement under Articles 25(d) of the FS(J)L, 26(c) of the Supervisory Bodies Law and 48(2) of the BB(J)L.
This statement is to warn members of the public against dealing with unauthorised financial service providers. The scam entity has not received authorisation to conduct financial service business, supervised business or deposit-taking business within the meaning of the FS(J)L, Supervisory Bodies Law and BB(J)L.
From documentation held by the JFSC, the scam entity is falsely claiming to be regulated by the JFSC and is carrying on, or holding out as carrying on, investment business, deposit-taking business and lending activities when it is not authorised by, or registered with, the JFSC to do so.
The JFSC confirms the following:
- The scam entity has never been registered, nor applied for registration, under the FS(J)L, Supervisory Bodies Law or BB(J)L. Therefore any investment business[1], lending activities[2] or deposit-taking business[3] carried on by the scam entity, is in breach of Articles 7 of the FS(J)L, 8 of the BB(J)L and 10 of the Supervisory Bodies Law.
- From documentation held by the JFSC, the scam entity, website and email address display warning signs of being set up for fraudulent purposes.
Anyone who has had dealings with the impersonating entity is asked to contact the JFSC’s Enforcement team.
All regulated businesses in Jersey are listed on our website.
For further enquiries, please contact the JFSC’s Enforcement team.
[1] Defined in Article 2 of the FS(J)L.
[2] Defined in Schedule 2 of the POC(J)L.
[3] Defined in Article 3 of the BB(J)L.
This news item was originally published by the Jersey Financial Services Commission (JFSC JE). For more information, see the Source Link.
