Asian European Finance Group ("AEFG") (2004-07-20)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning the public and industry that Asian European Finance Group (AEFG), operating via the website www.aseufg.com and marketing the 'Integris Group of Mutual Funds', is not authorised to conduct financial service business, deposit-taking business or collective investment fund business in Jersey despite claiming a Jersey presence.

• Financial service business: AEFG has never registered or applied to register under the Financial Services (Jersey) Law 1998; any such business conducted since 1 July 1999 breaches Article 6 of that Law.
• Deposit-taking business: AEFG has never registered or applied to register under the Banking Business (Jersey) Law 1991; any such business conducted since 1 October 1991 breaches Article 7 of that Law.
• Collective investment fund business: Neither AEFG nor the Integris Group of Mutual Funds has registered or applied to register under the Collective Investment Funds (Jersey) Law 1988; any such business conducted since 1 June 1989 breaches Article 4 of that Law.
• Verification: The Commission notes that all regulated businesses are listed on its website and invites anyone who has dealt with AEFG to contact the Commission.

The statement is a warning notice rather than a rule change; it does not create ongoing compliance obligations for regulated entities but flags an unauthorised operator for public awareness.

Key obligations

• Any person who has had dealings with AEFG is requested to contact the Commission.

Applies to

unauthorised financial services providers, members of the public, investors