Reality Millions (2009-10-07)

Summary

This is a public warning notice issued by the Guernsey Financial Services Commission (GFSC) about an entity trading as Reality Millions, which claims to operate a related trust company called RM Private Trust (also known as ITBG Securities Underwriters Corporation) based in the Channel Islands.

• No authorisation: Reality Millions, RM Private Trust and ITBG Securities Underwriters Corporation are not licensed, registered or authorised to conduct financial services business in or from the Bailiwick of Guernsey.
• No registration: None of these entities is registered as a company within the Bailiwick of Guernsey.
• Related prior warning reaffirmed: The Commission repeats its earlier warning that it does not recognise 'International Business and Investment Trust Companies' as having any legal standing.
• Public caution advised: Members of the public are advised to exercise great caution when dealing with these entities, particularly before parting with any money.

The notice is purely informational and does not impose any ongoing regulatory obligations on licensed firms; it serves to alert consumers and the public that these entities operate without GFSC authorisation.