Euroswift Private Bank (2005-10-04)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission alerting investors and the public that Euroswift Private Bank (operating as Euroswift Private Bank via www.euroswiftpb.com) is not authorised to conduct investment, deposit taking or collective investment fund business in Jersey. It was issued under the Commission's statutory powers to name unauthorised providers.

• Financial Services Law: Euroswift Private Bank has never registered or applied for registration under the Financial Services (Jersey) Law 1998; any financial service business conducted since 1 July 1999 breaches Article 7 of that Law.
• Banking Business Law: Euroswift Private Bank has never registered or applied for registration under the Banking Business (Jersey) Law 1991; any deposit taking business since 1 October 1991 breaches Article 8 of that Law.
• Collective Investment Funds Law: Euroswift Private Bank has never registered or applied for a licence under the Collective Investment Funds (Jersey) Law 1988; any collective investment fund business since 1 June 1988 breaches Article 5 of that Law.
• Public request: Any person who has had dealings with Euroswift Private Bank is asked to contact the Commission.

The statement is informational and enforcement related rather than regulatory rulemaking; it does not impose ongoing compliance obligations on licensed entities but warns the public to avoid dealing with this unauthorised provider.

Applies to

unauthorised financial services providers, investors and members of the public