Leeds Bank Plc (2007-03-20)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) alerting investors and members of the public that Leeds Bank Plc, operating via the website leedsb.com, is not authorised in Jersey despite appearing to carry on deposit-taking, insurance and financial service business there.

• Financial service business: Leeds Bank has never been registered under the Financial Services (Jersey) Law 1998; any such business since 1 July 1999 breaches Article 7.
• Deposit-taking business: Leeds Bank has never been registered under the Banking Business (Jersey) Law 1991; any such business since 1 October 1991 breaches Article 8.
• Insurance business: Leeds Bank has never been registered under the Insurance Business (Jersey) Law 1996; any such business since 1 October 1996 breaches Article 5.
• Fraud warning: The Commission states that documentation held suggests Leeds Bank displays warning signs of being set up for a fraudulent purpose.

The Commission asks anyone who has had dealings with Leeds Bank to contact it, and reminds the public that all regulated businesses in Jersey are listed on the Commission's website. This is an informational public statement rather than a rule imposing ongoing compliance obligations on regulated entities.

Key obligations

• Any person who has had dealings with Leeds Bank Plc is requested to contact the Commission