Axiom Trust Private Bank (2006-04-04)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) alerting investors and the public that Axiom Trust Private Bank, operating via www.axiomtrustpb.com/bank, is not authorised to conduct investment business, deposit-taking business or collective investment fund business in Jersey. It does not create ongoing regulatory obligations for licensed entities but serves as a fraud/unauthorised-business alert.

• No investment business authorisation: Axiom has never registered or applied to register under the Financial Services (Jersey) Law 1998, so any financial service business it has conducted since 1 July 1999 breaches Article 7 of that Law.
• No banking authorisation: Axiom has never registered or applied to register under the Banking Business (Jersey) Law 1991, so any deposit-taking business it has conducted since 1 October 1991 breaches Article 8 of that Law.
• No fund authorisation: Axiom has never registered or applied for a licence under the Collective Investment Funds (Jersey) Law 1988, so any collective investment fund business conducted since 1 June 1988 breaches Article 5 of that Law.
• Public request: Anyone who has had dealings with Axiom is asked to contact the Commission.

The statement was issued by the Commission's Director of Enforcement under Article 25(2) of the Financial Services Law, Article 48(1)(a) of the Banking Business Law and Article 17(1)(a)(i) of the Collective Investment Funds Law, and is intended as a public warning rather than an action against a regulated entity.

Key obligations

• Persons who have had dealings with Axiom Trust Private Bank are requested to contact the Commission

Applies to

unauthorised financial services provider, investment business, deposit-taking business, collective investment fund business