Atlantic Credit Nominees (2004-06-24)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission alerting investors and the public that Atlantic Credit Nominees, and several associated entities operating under similar names via the website www.atlanticreditnominees.com, are not authorised to conduct financial service business or deposit-taking business in Jersey.

• Financial services breach: ACN has never registered or applied for registration under the Financial Services (Jersey) Law 1998, so any financial service business it has carried out since 1 July 1999 breaches Article 6 of that Law.
• Banking breach: ACN has never registered or applied for registration under the Banking Business (Jersey) Law 1991, so any deposit-taking business it has carried out since 1 October 1991 breaches Article 7 of that Law.
• False Jersey presence: The Commission notes that ACN's website falsely implies it has an office in Jersey.

The statement is issued under Article 22 of the Financial Services (Jersey) Law 1998 and Article 45B of the Banking Business (Jersey) Law 1991. It does not create ongoing regulatory obligations for licensed entities but asks anyone who has dealt with ACN to contact the Commission.

Applies to

unauthorised financial services providers, members of the public dealing with Atlantic Credit Nominees