Peterson Advisory Limited (2011-08-02)

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 the public about Peterson Advisory Limited, an entity that has never been registered or authorised to conduct financial services business in Jersey.

• Unauthorised activity: Peterson Advisory Limited has been offering investment advice to Jersey residents via unsolicited telephone calls without ever registering or applying for registration under the Financial Services Law.
• Breach identified: Any financial services business it has carried out since 1 July 1999 is in breach of Article 7 of the Financial Services Law.
• Fraud warning: Documentation held by the Commission suggests Peterson Advisory Limited and its website display warning signs of being set up for a fraudulent purpose.
• Call to action: Members of the public who have had dealings with Peterson Advisory Limited are asked to contact the Commission, and readers are directed to the Commission's list of regulated entities to verify authorised firms.

The statement is purely a warning notice and does not impose ongoing regulatory obligations on licensed businesses; it serves to alert investors and the public rather than to create compliance duties.