MSF Public Statement (2005-02-11)

Summary

This is a public statement issued by the Jersey Financial Services Commission warning investors and the public against dealing with an entity or group of entities operating under the name MSF (including various related trading names such as MSF Group Finance and Securities, MSF Asset Management, MSF Mutual Fund Management, MSF Insurance, and others), which promotes itself via the website www.msf-online.org.

• No authorisation: MSF has never been registered or applied for registration under the Financial Services (Jersey) Law 1998, the Banking Business (Jersey) Law 1991, or the Collective Investment Funds (Jersey) Law 1988.
• Alleged breaches: Any financial service business conducted by MSF since 1 July 1999, any deposit taking business since 1 October 1991, and any collective investment fund business since 1 June 1989 would breach the respective Jersey laws.
• No genuine Jersey links: The Commission found no genuine links between MSF and Jersey, and MSF's claimed registered address in St Helier actually belongs to an unrelated locally registered bank, Alpha Bank Jersey Limited, which has confirmed it has no connection to MSF.
• Call to action: Anyone who has had dealings with MSF is asked to contact the Commission.

The statement is purely a warning notice issued under the Commission's enforcement powers; it does not impose any new ongoing compliance obligations on regulated entities generally, but signals that dealings with MSF are unauthorised and potentially unlawful.

Applies to

members of the public, investors