IMB Group Bank PLC and IMB Group Bank Finance Company (Jersey) Limited (2002-12-19)

Summary

This is a public warning notice issued by the Jersey Financial Services Commission (JFSC) alerting investors and the public that IMB Group Bank PLC and IMB Group Bank Finance Company (Jersey) Limited are not authorised to conduct investment business or deposit taking business in Jersey. The Commission found the entities' website falsely claimed offices in Jersey and licensing by the Commission.

• No licence held: Neither entity has ever held or applied for a licence under the Financial Services (Jersey) Law 1998 or the Banking Business (Jersey) Law 1991.
• Unlawful business: Any investment business conducted by these entities since 1 July 1999, or deposit taking business conducted since 1 October 1991, constitutes a breach of Article 6 of the Financial Services Law and Article 7 of the Banking Business Law respectively.
• No genuine Jersey links: The Commission confirmed there are no genuine links between these entities and the Jersey addresses shown on their websites.
• Scope clarification: The notice does not apply to legitimate regulated businesses that may use similar terms such as 'bank finance' in their names.
• Public request: Anyone who has had dealings with these entities is asked to contact the Commission.

This is a historical enforcement-style public statement rather than a rule or guidance document, and it imposes no ongoing compliance obligations on regulated entities beyond the general warning to the public and a request for information from anyone who dealt with the named entities.

Key obligations

• Any person who has had dealings with IMB Group Bank PLC or IMB Group Bank Finance Company (Jersey) Limited is requested to contact the Commission.

Applies to

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