Fraser Richecoeur and Fondre LLP (2009-01-30)

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 Fraser Richecoeur and Fondre LLP (FRF LLP), an entity that is not authorised to conduct financial service business in Jersey.

• Unauthorised status: FRF LLP has never been registered or applied for registration under the Financial Services Law, so any financial service business it has carried out since 1 July 1999 breaches Article 7 of that Law.
• Fraud warning signs: The Commission states that documentation it holds suggests FRF LLP displays warning signs of being set up for a fraudulent purpose.
• Public guidance: The Commission reminds the public that all regulated businesses in Jersey are listed on its website and asks anyone who has dealt with FRF LLP to contact the Commission.

This is a warning notice rather than a rule-making document; it does not itself create ongoing regulatory obligations for licensed entities, but signals enforcement action against an unauthorised provider.

Applies to

unauthorised financial services providers, investors and members of the public dealing with unregulated entities