Jacobs & Burns (2006-12-20)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning investors and the public that Jacobs & Burns (trading via www.jacobsburns.com) is not authorised to conduct financial services business in Jersey. The Commission states that Jacobs & Burns has been cold-calling local residents offering investment advice despite never having registered or applied for registration under the Financial Services (Jersey) Law 1998.

• Basis: Issued under Article 25(2) of the Financial Services (Jersey) Law 1998, as amended.
• Finding: Jacobs & Burns has never been registered nor applied for registration under the Law.
• Alleged breach: Any financial service business carried out by Jacobs & Burns since 1 July 1999 is said to be in breach of Article 7 of the Law.
• Public guidance: The Commission notes all regulated businesses are listed on its website and asks anyone who has dealt with Jacobs & Burns to contact the Commission.

The statement is purely a warning notice with no continuing regulatory obligations on licensed or regulated firms; it is intended to alert the public and industry to an unauthorised, potentially fraudulent operator.