Nova Portfolio Management (2011-12-01)

Summary

This is a public statement issued by the Jersey Financial Services Commission under Article 25(d) of the Financial Services (Jersey) Law 1998 warning investors and the public about Nova Portfolio Management (Nova), an entity that is not authorised to conduct financial services business in Jersey.

• Unauthorised activity: Nova has never registered or applied for registration under the Financial Services Law, and any financial services business it has carried out since 1 July 1999 is in breach of Article 7 of the Law.
• Method of approach: Nova has been offering investment advice to Jersey residents via unsolicited telephone calls.
• Public warning: The Commission warns investors and others against dealing with Nova and notes that all regulated businesses in Jersey are listed on its website.
• Call for information: Anyone who has had dealings with Nova is requested to contact the Commission.

The statement is purely a warning notice and does not impose ongoing regulatory obligations on licensed firms; it is aimed at protecting consumers from an unauthorised provider.

Key obligations

• Any person who has had dealings with Nova is requested to contact the Jersey Financial Services Commission.

Applies to

unauthorised financial services providers, investors and members of the public