Clifton Consulting Group LLC (the Scam Entity) (2021-03-25)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning investors and the public about Clifton Consulting Group LLC, which the JFSC identifies as a suspected scam entity operating an unauthorised financial services business.

• Registration status: Clifton Consulting Group LLC has never been registered, nor applied for registration, under the Financial Services (Jersey) Law 1998 (FS(J)L).
• Legal basis for warning: The JFSC issues the statement under Article 25(d) of the FS(J)L to warn against dealing with unauthorised financial service providers.
• Breach identified: Any financial services business conducted by the entity, as defined in Article 2 of the FS(J)L, is said to breach Article 7 of the FS(J)L, which prohibits unauthorised financial services business.
• Fraud warning signs: Based on information held by the JFSC, the entity and its website display warning signs of being set up for a fraudulent purpose.
• Public guidance: The JFSC notes that all regulated businesses in Jersey are listed on its website, and invites anyone who has dealt with the entity to contact the JFSC.

The statement is informational and protective in nature, intended to alert the public rather than to impose ongoing compliance duties on regulated firms.