Investment Trust Bank (2003-09-16)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) about an entity calling itself 'Investment Trust Bank' (ITB), which operated a website claiming a Jersey connection. The Commission confirms ITB has never been registered or authorised under either the Financial Services (Jersey) Law 1998 or the Banking Business (Jersey) Law 1991, and warns the public against dealing with it.

• No registration: ITB has never applied for or received registration under the Financial Services Law, so any financial service business it has conducted since 1 July 1999 breaches Article 6 of that law.
• No banking licence: ITB has never applied for or received registration under the Banking Business Law, so any deposit taking business it has conducted since 1 October 1991 breaches Article 7 of that law.
• No genuine Jersey link: The Commission found no genuine connection between ITB and the Jersey address quoted on its website.
• Public guidance: The public is reminded that all regulated businesses are listed on the Commission's website, and anyone who has dealt with ITB is asked to contact the Commission.

The statement is issued under Article 22 of the Financial Services (Jersey) Law 1998 and Article 45B of the Banking Business (Jersey) Law 1991, and serves purely as an investor warning rather than imposing new regulatory requirements on licensed firms.