James B. Clarke & Co. Ltd (2008-11-11)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission under Article 25(d) of the Financial Services (Jersey) Law 1998, alerting investors and the public that James B. Clarke & Co. Ltd, operating via the website www.jbc-co.com, is not authorised to conduct financial service business in Jersey.

• Unauthorised business: James B. Clarke & Co. Ltd has never been registered or applied for registration under the Law, so any financial service business it has carried out since 1 July 1999 breaches Article 7(1) of the Law.
• No Jersey presence: The company does not have a presence in Jersey.
• Fraud warning signs: Documentation held by the Commission suggests the entity displays warning signs of being set up for a fraudulent purpose.
• Call to action: Anyone who has had dealings with James B. Clarke & Co. Ltd is asked to contact the Commission; the public is reminded that all regulated Jersey businesses are listed on the Commission's website.

This is an informational public statement rather than a rule change; it creates no ongoing regulatory obligations for licensed entities, but serves as a warning to the public and industry to avoid dealing with this unauthorised provider.

Applies to

unauthorised financial services providers, investors and members of the public