JLS Capital Group (2011-10-21)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning that JLS Capital Group ('JLS') is not authorised to conduct financial services business in Jersey. The Commission issued the notice after learning that JLS had been making unsolicited telephone calls to Jersey residents offering investment advice.

• Unauthorised status: JLS has never been registered, nor applied for registration, under the Financial Services (Jersey) Law 1998.
• Breach identified: Any financial services business carried out by JLS since 1 July 1999 is in breach of Article 7 of the Financial Services Law.
• Purpose of statement: Issued under Article 25(d) of the Financial Services Law to warn investors and others against dealing with JLS.
• Call to action: Anyone who has had dealings with JLS is asked to contact the Commission.

The notice is purely informational and warns the public rather than imposing ongoing regulatory duties on licensed entities; it does not create compliance obligations for JFSC-regulated businesses beyond the general point that only entities listed on the Commission's website are authorised.

Key obligations

• Any person who has had dealings with JLS Capital Group is requested to contact the Jersey Financial Services Commission.

Applies to

unauthorised financial services providers, investors and members of the public dealing with JLS Capital Group