Citizens Equity Limited (2006-07-07)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission alerting investors and the public that Citizens Equity Limited (trading as Citizens, via the website citizensequity.org) is not authorised to carry on financial service or banking business, and appears to falsely claim association with Jersey and other jurisdictions.

• Basis: Issued under Article 25(2) of the Financial Services (Jersey) Law 1998, Article 48(2) of the Banking Business (Jersey) Law 1991, and Article 17(2) of the Collective Investment Funds (Jersey) Law 1988.
• False claims identified: Citizens falsely implied a presence in or association with Jersey, London, Guernsey, Portugal and the Isle of Man.
• Related regulatory action: The Isle of Man Financial Supervision Commission separately confirmed Citizens has no locus and is not authorised in the Isle of Man.
• Fraud warning: The Commission states Citizens and its website display warning signs of being set up for a fraudulent purpose.
• Public request: Anyone who has had dealings with Citizens is asked to contact the Commission.

This is a historical enforcement/public warning notice with no ongoing regulatory requirements for licensed entities; it serves to inform the public and prompt reporting of dealings with the named unauthorised entity.