Arrow International Management Services Limited and Norman Edwin Steele (2002-06-19)

Summary

This is a public statement issued by the Jersey Financial Services Commission under Article 22 of the Financial Services (Jersey) Law 1998, warning the public that Arrow International Management Services Limited (AIMSL) and its purported managing director, Norman Edwin Steele, have never been authorised to conduct investment business in Jersey.

• Company status: AIMSL was a private Jersey company struck off the register on 13 October 2000 under Article 205 of the Companies (Jersey) Law 1991.
• Unauthorised activity: Any investment business purportedly carried out by AIMSL since 1 July 1999 is unauthorised, as AIMSL was not a transitional applicant under Article 40 of the Law and was later refused a licence under Article 8(3).
• Breach finding: The Commission found evidence that AIMSL carried out investment business as defined in Article 2(2) of the Law without being a registered person, in breach of Article 6, and that the named individuals also conducted illegal investment business from South Africa.
• Public advisory: Anyone who had investment dealings with AIMSL since 1 July 1999 is advised to contact the Commission's Enforcement division.

Key obligations

• Any person who has had investment dealings with AIMSL since 1 July 1999 should contact the Commission's Enforcement division.