Nations Merchant Bank (2003-08-27)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission alerting the public that Nations Merchant Bank (NMB), which operated the website www.nat-merc.com and offered online banking services, is not authorised to conduct financial service or deposit-taking business in Jersey. The Commission suspected NMB may have been falsely claiming a connection to the Island.

• No financial services registration: NMB has never been registered, or applied for registration, under the Financial Services (Jersey) Law 1998; any financial service business conducted since 1 July 1999 breaches Article 6 of that Law.
• No banking registration: NMB has never been registered, or applied for registration, under the Banking Business (Jersey) Law 1991; any deposit-taking business conducted since 1 October 1991 breaches Article 7 of that Law.
• Public referral: Persons who have had dealings with NMB are asked to contact the Commission, and the public is directed to the Commission's website for a list of all regulated businesses.

Applies to

unauthorised financial services providers, members of the public who have dealt with NMB