Presidency Investments (2017-08-22)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning that Presidency Investments (Presidency), which operates via the website www.presidency.ch, is not authorised to conduct financial service business in Jersey under the Financial Services (Jersey) Law 1998 (FS(J)L). The statement is issued under Article 25(d) of the FS(J)L to alert investors and the public.

• Unauthorised activity: Presidency has never registered, nor applied to register, under the FS(J)L, and any financial service business it has carried out since 1 July 1999 breaches Article 7 of the FS(J)L.
• False address claim: Presidency falsely purports to trade from Liberation Station, Esplanade, Jersey, and has no connection to Regus Jersey Limited, the legitimate tenant leasing office space at that address.
• Fraud warning: Documentation held by the JFSC suggests Presidency and its website display warning signs of being set up for a fraudulent purpose.

The JFSC advises the public to check its register of regulated businesses and asks anyone who has had dealings with Presidency to contact the Commission. This is a warning notice, not a rule imposing ongoing compliance duties on regulated entities.