Excel Homes Plc (2006-06-29)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) concerning Excel Homes Plc, an entity operating through the website excelhomesonline.com. The Commission found that Excel Homes was holding itself out as an authorised financial services provider, including falsely claiming a Jersey address and a UK SRO financial advisor licence, when it held no such authorisation.

• False Jersey address: Excel Homes claimed a contact address at 25 New Street, St. Helier, Jersey, but the Commission found no actual presence there.
• False UK licensing claim: The website falsely claimed Excel Homes were licensed financial advisors in London holding an SRO licence.
• Suspected fraud: The Commission states the documentation reviewed shows warning signs consistent with a fraudulent operation.
• No connection to genuine Jersey businesses: Excel Homes is not connected to Lloyds TSB Offshore Limited or the Legal & General Group, despite any implied association.

The statement is issued under Article 25(2) of the Financial Services (Jersey) Law 1998, Article 48(2) of the Banking Business (Jersey) Law 1991, and Article 17(2) of the Collective Investment Funds (Jersey) Law 1988, to warn investors and the public against dealing with this unauthorised provider. Anyone who has had dealings with Excel Homes is asked to contact the Commission.