Dundee Wealth Management AG (the impersonating entity) (2022-07-29)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) under Article 25(d) of the Financial Services (Jersey) Law 1998, warning the public about an unauthorised entity called Dundee Wealth Management AG that is falsely claiming to be JFSC-regulated and to be connected to a former Jersey-registered company.

• Impersonation: The entity, via investorservices@dundeewealthmgmt.co and www.dundeewealthmgmt.co, falsely claims to provide investment business services while purporting to be regulated by the JFSC.
• False association: It falsely uses the incorporation number of a former Jersey-registered company, Dundee Management Ltd (RCD117141), though the two are unconnected.
• No authorisation: The entity has never been registered, nor applied for registration, under the Financial Services (Jersey) Law 1998, so any financial service business it conducts breaches Article 7 of that Law.
• Fraud warning: JFSC documentation indicates the entity, email and website show warning signs of being set up for fraudulent purposes.

The statement does not impose any new regulatory requirements on licensed businesses; it is a public warning. Anyone who has dealt with the impersonating entity is asked to contact the JFSC's Enforcement team, and the public is reminded that all genuinely regulated businesses in Jersey are listed on the JFSC website.