Perrin, Holden & Davenport Capital Corp. (2004-01-23)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission on 23 January 2004, alerting the public that Perrin, Holden & Davenport Capital Corp. (PHD), a New York based investment firm, is not authorised to conduct financial services business in Jersey.

• Basis: The statement was issued under Article 22 of the Financial Services (Jersey) Law 1998, as amended.
• Conduct flagged: PHD was reported to be cold calling Jersey residents to offer investment brokering services without ever registering or applying for registration under the Law.
• Legal consequence: Any financial service business carried out by PHD since 1 July 1999 is stated to be in breach of Article 6 of the Financial Services Law.
• Public guidance: The Commission directs the public to its website listing all regulated businesses and asks anyone who has dealt with PHD to contact the Commission.

This is an informational enforcement notice rather than a rule of general application; it does not create ongoing compliance obligations for regulated firms, but serves as a warning to consumers and a record that PHD is unauthorised.

Key obligations

• Any person who has had dealings with PHD is requested to contact the Commission