Fairbairn Private Bank (2013-01-23)

Summary

This is a public statement issued by the Jersey Financial Services Commission under Article 48(2) of the Banking Business (Jersey) Law 1991, warning the public that an entity calling itself Fairbairn Private Bank is not authorised to conduct deposit-taking business in Jersey. The Commission states that Fairbairn, operating through the website fbairnpbk.com, is not connected to the unrelated, formerly similarly-named Fairbairn Private Bank Limited (now Nedbank Private Wealth, Jersey Branch), which is a properly authorised institution.

• Unauthorised activity: Fairbairn has never been registered under the Banking Business Law and has never applied for registration.
• Breach alleged: Any deposit-taking business conducted by Fairbairn is said to breach Article 8 of the Banking Business Law.
• Fraud warning: The Commission notes that Fairbairn and its website display warning signs of being set up for a fraudulent purpose.
• No connection: Fairbairn is explicitly stated to have no connection to Fairbairn Private Bank Limited, now Nedbank Private Wealth, Jersey Branch, which is duly authorised.

The statement asks anyone who has had dealings with Fairbairn or its website to contact the Commission. It does not create ongoing regulatory obligations for licensed entities but serves as an investor warning.