FHM & Associates (2011-08-22)

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 investors and the public against dealing with FHM & Associates, an entity operating the website fhmassociates.com.

• Unauthorised status: FHM & Associates has never been registered or applied for registration under the Financial Services Law.
• Alleged conduct: The Commission became aware FHM & Associates was offering investment advice to Jersey residents via unsolicited telephone calls.
• Breach of law: Any financial services business carried out by FHM & Associates since 1 July 1999 is said to be in breach of Article 7 of the Financial Services Law, which prohibits conducting financial services business without registration.
• Fraud warning: Documentation held by the Commission suggests FHM & Associates and its website display warning signs of being set up for a fraudulent purpose.

The notice does not impose ongoing regulatory obligations on licensed entities; it is a warning notice aimed at the public and investors, and it invites anyone who has had dealings with FHM & Associates to contact the Commission.

Key obligations

• Any person who has had dealings with FHM & Associates is requested to contact the Jersey Financial Services Commission.