Bankers Trust International (2006-12-08)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) alerting investors and the public that an entity calling itself Bankers Trust International (BTI), operating via the website www.bti-onlineplc.info, is carrying on or holding itself out as carrying on banking, financial services, and collective investment funds business in Jersey without any authorisation to do so.

• No banking registration: BTI has never been registered under the Banking Business (Jersey) Law 1991; any deposit taking business it has conducted since 1 October 1991 is a breach of Article 8 of that Law.
• No financial services registration: BTI has never been registered under the Financial Services (Jersey) Law 1998; any financial services business conducted since 1 July 1999 is a breach of Article 7 of that Law.
• No funds registration: BTI has never been registered under the Collective Investment Funds (Jersey) Law 1988; any collective investment funds business conducted since 1 June 1988 is a breach of Article 5 of that Law.
• No connection to genuine entity: BTI and the Website are unconnected to the genuine, London based Bankers Trust International Plc or its ultimate owner Deutsche Bank AG, which are legitimately authorised and regulated (by the UK FSA and, in Jersey, by the JFSC respectively).
• Public request: Anyone who has had dealings or contact with persons purporting to represent BTI is asked to contact the Commission.

The statement is informational and warning in nature, issued under statutory powers to protect the public, rather than imposing ongoing regulatory obligations on licensed firms.

Applies to

unauthorised financial services providers, members of the public and investors dealing with BTI