Channel Islands Swap Redress Ltd (or Swap Redress Ltd) (2014-08-18)

Summary

This is a public warning notice issued by the Guernsey Financial Services Commission (GFSC) alerting the public that Channel Islands Swap Redress Ltd (also referred to as Swap Redress Ltd), which advertised in the Guernsey Press regarding mis-selling of interest rate hedging products, is not licensed, authorised or regulated by the Commission for any financial services business in or from the Bailiwick of Guernsey.

• Entity named: Channel Islands Swap Redress Ltd, associated with the website www.ciswaps.co.uk
• Nature of concern: The entity placed adverts about mis-selling of interest rate hedging products but holds no GFSC licence or authorisation
• Commission's advice: Members of the public should verify a company's regulatory status before responding to such adverts or entering into financial services contracts
• Contact: Further guidance is available from the Commission's Intelligence Team