Kapital Equity Unlimited (2006-07-12)

Summary

This is a public statement issued by the Jersey Financial Services Commission warning investors and the public that Kapital Equity Unlimited, which operates via the website kapitalequity.org, is not authorised to conduct financial service or banking business and has no genuine connection to Jersey despite implying otherwise.

• Not registered: Kapital Equity is not registered with the Commission to conduct any regulated financial service business, and is not a Jersey incorporated company or a foreign company with a place of business in Jersey.
• UK finding: The UK Financial Services Authority has listed Kapital Equity Limited as an unauthorised internet bank with no locus in the UK.
• Guernsey finding: The Guernsey Financial Services Commission has listed Kapital Equity Unlimited as an unauthorised bank with no locus in Guernsey.

The statement was issued under Article 25(2) of the Financial Services (Jersey) Law 1998 and Article 48(2) of the Banking Business (Jersey) Law 1991, and is intended solely to alert the public rather than to impose any ongoing compliance requirement on regulated firms.