NationWide Bank (2006-11-29)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) about an entity calling itself NationWide Bank, operating via the website www.nationwideb.com. The Commission states that NationWide is not authorised to carry on financial service business or banking business in the Channel Islands or Ireland, despite implying such presence or association on its website.

• False claims: The website falsely implies NationWide has a presence in or association with the Channel Islands and Ireland.
• No connection to genuine institutions: NationWide is confirmed to have no connection to the UK's Nationwide Building Society (authorised by the FSA) or the Irish Nationwide Building Society (authorised by the Financial Regulator in Ireland).
• Fraud warning: The Commission states that NationWide and its website display all the warning signs of being set up for a fraudulent purpose.
• Public request: Anyone who has had dealings with NationWide is asked to contact the Commission.

This is purely a warning notice for investors and the public; it does not impose regulatory obligations on licensed or regulated businesses. It is issued under Article 25(2) of the Financial Services (Jersey) Law 1998 and Article 48(2) of the Banking Business (Jersey) Law 1991.