Apex Continental Bank PLC (2004-11-30)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission on 30 November 2004, alerting investors and the public that a group of related entities trading under names including Apex Continental Bank PLC, Apex Continental Finance PLC, Apex PLC, Apex Continental Bank PLC & Trust Corporation, and others (collectively the APEX Entities) are not authorised to conduct financial services, deposit-taking, or collective investment fund business in Jersey. It does not create ongoing obligations for licensed firms but warns against dealing with these unauthorised providers and clarifies they have no connection to Jersey or to the genuine, authorised Apex Trust Company Limited.

• No financial services registration: The APEX Entities have never registered or applied for registration under the Financial Services (Jersey) Law 1998, so any financial service business they have conducted since 1 July 1999 breaches Article 6 of that Law.
• No banking registration: The APEX Entities have never registered under the Banking Business (Jersey) Law 1991, so any deposit-taking business conducted since 1 October 1991 breaches Article 7 of that Law.
• No collective investment fund licence: The APEX Entities have never registered or licensed under the Collective Investment Funds (Jersey) Law 1988, so any fund business conducted since 1 June 1989 breaches Article 4 of that Law.
• No connection to Jersey: The Commission found no genuine links between the APEX Entities and Jersey, and confirms the APEX Entities are unrelated to the authorised Apex Trust Company Limited and its participating members.
• Call for information: Anyone who has had dealings with the APEX Entities is asked to contact the Commission.

Applies to

unauthorised financial services providers (APEX Entities), investors and members of the public