First Chartered Bank Limited (2003-02-17)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) alerting investors and the public that First Chartered Bank Limited (FCB) is not authorised to conduct financial service or deposit-taking business in Jersey. FCB had operated a website and issued documentation implying regulation and a Jersey presence, despite never being registered or having applied for registration under either the Financial Services (Jersey) Law 1998 or the Banking Business (Jersey) Law 1991.

• No registration: FCB has never registered, or applied to register, under the Financial Services Law or the Banking Business Law.
• Breach of law: Any financial service business conducted by FCB since 1 July 1999 breaches Article 6 of the Financial Services Law; any deposit-taking business conducted since 1 October 1991 breaches Article 7 of the Banking Business Law.
• No affiliation: FCB is not connected to Standard Chartered Plc or its group companies.
• Public request: The Commission asks anyone who has dealt with FCB to contact it.

This is purely a warning notice against an unauthorised entity and does not impose ongoing compliance obligations on regulated firms; it is intended to inform the public and licensed businesses to avoid dealing with FCB.

Applies to

members of the public, investors, unauthorised financial services providers