Offshore Capital Conservators (Jersey) Ltd (2009-02-12)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission under Article 48(2) of the Banking Business (Jersey) Law 1991. It names Offshore Capital Conservators (Jersey) Ltd as an unauthorised entity that appears to be carrying on or holding out that it carries on deposit-taking business in Jersey without the required authorisation.

• Unauthorised activity: Offshore Capital has never registered, or applied to register, under the Banking Business Law, so any deposit-taking business it has conducted since 1 October 1991 breaches Article 8 of that Law.
• Fraud warning signs: The Commission states that documentation it holds suggests Offshore Capital displays warning signs of being set up for a fraudulent purpose.
• Public guidance: The Commission reminds the public that all regulated businesses in Jersey are listed on its website, and asks anyone who has dealt with Offshore Capital to contact the Commission.

This is a purely informational public statement warning investors and the industry; it does not impose ongoing compliance obligations on regulated entities beyond the general prompt to report dealings with the named unauthorised firm.

Applies to

unauthorised financial services providers, members of the public/investors