Capital Offshore Group (2007-05-17)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) on 17 May 2007, cautioning investors and the public against dealing with Capital Offshore Group (CO Group), an entity operating through the website www.cogroup.co.uk. The Commission states that CO Group appears to be carrying on or holding out that it carries on financial service business in Jersey without the required authorisation.

• Unregistered status: CO Group has never been registered, or applied for registration, under the Financial Services (Jersey) Law 1998.
• Alleged breach: Any financial service business carried out by CO Group since 1 July 1999 is said to breach Article 7 of the Financial Services Law.
• Fraud warning: Documentation held by the Commission suggests CO Group displays warning signs of being set up for a fraudulent purpose.
• Public register reference: The Commission notes that all regulated businesses in Jersey are listed on its website, implying CO Group is not among them.
• Call for information: Anyone who has had dealings with CO Group is requested to contact the Commission.

The statement is informational and warning in nature, issued under Article 25(2) of the Financial Services (Jersey) Law 1998, and does not impose ongoing regulatory obligations on licensed entities.

Applies to

unauthorised financial services providers, members of the public and investors dealing with Capital Offshore Group