European Finance Services (2010-12-22)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) under Article 48(2) of the Banking Business (Jersey) Law 1991, warning the public against dealing with an entity called European Finance Services, which operates the website efinanceservices.eu.

• Unauthorised activity: European Finance Services has never been registered or applied for registration under the Banking Business Law, and its apparent deposit-taking business in Jersey breaches Article 8 of that Law.
• False association: European Finance Services is falsely using an address associated with Standard Chartered Bank; the Commission confirms there is no connection between the two entities.
• Fraud warning: The Commission states that documentation held suggests European Finance Services and its website display warning signs of being set up for a fraudulent purpose.
• Call for information: Anyone who has had dealings with European Finance Services is asked to contact the Commission.

The statement is purely a public warning notice; it does not impose ongoing compliance obligations on regulated Jersey financial services businesses, but it confirms that Standard Chartered Bank and its group companies remain properly authorised in Jersey.