Atlantic Trust Bank ("ATB") (2003-07-22)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC), re-issuing an earlier April 2003 notice about Atlantic Trust Bank (ATB), an entity that is not licensed or authorised in Jersey. The re-issue was prompted by a new website (www.atlantictrustbank.net) falsely implying ATB has a Jersey office and is subject to regulation.

• No licences held: ATB has never held or applied for a licence under the Financial Services (Jersey) Law 1998 or the Banking Business (Jersey) Law 1991.
• Breach of law: Any financial services business or deposit-taking business conducted by ATB is stated to be a breach of Article 6 of the Financial Services Law and Article 7 of the Banking Business Law respectively.
• No genuine Jersey link: The Commission found no genuine links between ATB and the Jersey address cited on its website.
• Public guidance: The Commission directs the public to its own website for a list of genuinely regulated businesses and asks anyone who has dealt with ATB to contact the Commission.

The statement imposes no ongoing compliance obligations on regulated firms; it is purely a warning to investors and the public to avoid dealing with ATB as an unauthorised provider.