Corporate One Asset Management (2011-06-24)

Summary

This is a public statement issued by the Jersey Financial Services Commission under Article 25(d) of the Financial Services (Jersey) Law 1998, warning investors and the public about Corporate One Asset Management, an entity operating the website corporateoneassetmgmt.com. The Commission states this entity is not authorised to conduct financial services business in Jersey and has been contacting Jersey residents by unsolicited telephone calls offering investment advice.

• Unregistered activity: Corporate One Asset Management has never been registered or applied for registration under the Financial Services Law, so any financial services business it has carried out since 1 July 1999 breaches Article 7 of that Law.
• Fraud warning signs: Documentation held by the Commission indicates Corporate One Asset Management and its website display warning signs of being set up for a fraudulent purpose.
• Public verification: The Commission notes that all regulated businesses in Jersey are listed on its website, allowing the public to check authorisation status.
• Contact request: Anyone who has had dealings with Corporate One Asset Management is asked to contact the Commission (via Barry Faudemer).

This is an informational warning notice rather than a rule imposing ongoing compliance obligations on regulated firms; it is primarily aimed at protecting investors from an unauthorised and potentially fraudulent operator.

Applies to

unauthorised financial services provider (Corporate One Asset Management)