Nomura Trust Bank (2003-07-01)

Summary

This is a public statement issued by the Jersey Financial Services Commission warning the public not to deal with an entity calling itself Nomura Trust Bank (NTB), which operates the website www.nomuratrust.com. The Commission states that NTB is not authorised to conduct financial service business or deposit-taking business in Jersey and is not connected to the Nomura Holdings group.

• No financial services registration: NTB has never been registered or applied for registration under the Financial Services (Jersey) Law 1998, so any financial service business it has conducted since 1 July 1999 breaches Article 6 of that Law.
• No banking registration: NTB has never been registered or applied for registration under the Banking Business (Jersey) Law 1991, so any deposit-taking business it has conducted since 1 October 1991 breaches Article 7 of that Law.
• No Nomura affiliation: NTB is not connected to any company within the Nomura Holdings, Inc. group despite implying a Jersey presence on its website.
• Public register: The Commission notes all regulated businesses are listed on its website, www.jerseyfsc.org, and invites anyone who has dealt with NTB to contact the Commission.

The statement is a warning notice under Article 22 of the Financial Services Law and Article 45B of the Banking Business Law rather than a rule or guidance imposing ongoing compliance duties on regulated firms.