Access Trust Bank Limited (2003-02-18)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission alerting the public that Access Trust Bank Limited (ATB) is not authorised to conduct financial service or deposit-taking business in Jersey. It was prompted by a website (www.bellnorthus.com) that falsely implied ATB was regulated and had offices in Jersey.

• No financial services registration: ATB has never been registered, or applied for registration, under the Financial Services (Jersey) Law 1998; any financial service business it has carried out since 1 July 1999 is a breach of Article 6 of that Law.
• No banking registration: ATB has never been registered, or applied for registration, under the Banking Business (Jersey) Law 1991; any deposit-taking business it has carried out since 1 October 1991 is a breach of Article 7 of that Law.
• Verify authorised firms: The Commission notes that all regulated businesses are listed on its website, and asks anyone who has dealt with ATB to contact the Commission.

The statement is informational and enforcement-related; it does not impose ongoing compliance obligations on regulated entities but warns the public and industry against dealing with this unauthorised entity.

Key obligations

• Persons who have had dealings with ATB are requested to contact the Commission.

Applies to

unauthorised financial services providers, members of the public, investors