Intereuropebank & European Private Investment Bank (2002-11-26)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning investors and the public that Intereurope Bank and European Private Investment Bank (and associated entities operating as Bank Finance Company (Jersey) Limited) are not authorised to conduct investment business or deposit-taking business in Jersey.

• 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.
• Breach findings: Any investment business conducted by these entities since 1 July 1999, and any deposit-taking business since 1 October 1991, is stated to be a breach of Article 6 of the Financial Services Law and Article 7 of the Banking Business Law respectively.
• No Jersey presence: The Commission found no genuine links between these entities and the Jersey addresses advertised on their websites.
• Scope clarification: The statement does not apply to legitimate, properly regulated businesses that may use similar terms such as 'investment bank' or 'bank finance' in their names.

The Commission asks anyone who has had dealings with either entity to contact it directly. This is a warning notice rather than a rule imposing ongoing compliance obligations on regulated firms.

Key obligations

• Persons who have had dealings with Intereurope Bank or European Private Investment Bank are requested to contact the Jersey Financial Services Commission.