Meridien Trust Finance (2003-10-17)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission alerting the public that Meridien Trust Finance (MTF), operating via the website www.mtf-online.co.uk, is not authorised to conduct financial service business or deposit-taking business in Jersey. The statement was issued to counter implications on the website that MTF is regulated and connected to Jersey.

• No financial services registration: MTF has never registered or applied to register under the Financial Services (Jersey) Law 1998, so any financial service business it has carried out since 1 July 1999 breaches Article 6 of that Law.
• No deposit-taking registration: MTF has never registered or applied to register under the Banking Business (Jersey) Law 1991, so any deposit-taking business it has carried out since 1 October 1991 breaches Article 7 of that Law.
• Verification resource: The Commission notes that all regulated businesses are listed on its website, www.jerseyfsc.org.
• Call to action: Anyone who has had dealings with MTF is asked to contact the Commission.

This is a purely informational enforcement warning rather than a rule change; it creates no continuing compliance obligations for regulated entities, but investors and firms dealing with unauthorised providers should take note.

Applies to

financial service providers, deposit-taking institutions, members of the public dealing with unauthorised entities