Hugo Wegge (the Impersonating Entity) (2021-09-13)

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 the public about an entity calling itself Hugo Wegge operating via the website hugoweggebelgium.com. The JFSC identifies this as an Impersonating Entity that falsely claims to trade from an address in St Helier, Jersey and has no connection to the legitimate Belgian financial services provider of the same name.

• Not authorised: The Impersonating Entity has never been registered, nor applied for registration, to conduct investment business under the FS(J)L.
• Breach of law: Any investment business carried out by the Impersonating Entity is said to be in breach of Article 7 of the FS(J)L.
• No connection to real firm: The Impersonating Entity and its website have no link to the legitimate Belgian registered provider Hugo Wegge (Enterprise Number 0426.697.852).
• Fraud warning signs: The JFSC states the Impersonating Entity and website display warning signs of being set up for fraudulent purposes.

The notice is informational and warns members of the public not to deal with this unauthorised entity; it does not impose ongoing regulatory obligations on licensed firms, but asks anyone who has had dealings with the Impersonating Entity to contact the JFSC's Enforcement team.

Key obligations

• Anyone who has had dealings with the Impersonating Entity is asked to contact the JFSC's Enforcement team.