QFX Absolute Return Fund (Jersey) Limited, BBA Capita Capital Management LLP, Mr Robert Taylor-Barefoot, Mr Jeremy Wright and Mr Alex Ariana (2009-01-14)

Summary

This is a public statement issued by the Jersey Financial Services Commission under Article 17(1) of the Collective Investment Funds (Jersey) Law 1988 to warn investors and the public against dealing with a group of unauthorised funds and their promoters. It does not impose new regulatory requirements on licensed entities; it identifies specific persons and funds that are falsely holding themselves out as unregulated funds and have contravened the Law.

• Named unauthorised funds: QFX Absolute Return Fund (Jersey) Limited and nine associated BBA Capita QFX liquidity, liquidity plus and short duration bond funds are named as not meeting the requirements for unregulated fund status under the Collective Investment Funds (Unregulated Funds) (Jersey) Order 2008.
• Promoter and individuals: BBA Capita Capital Management LLP and its principal persons, Robert Taylor-Barefoot, Jeremy Wright and Alex Ariana, are identified as having never registered with the Commission under any regulatory law it administers.
• Contravention finding: The Commission states that the funds, individuals and BBA Capita Capital Management LLP contravened Article 10 of the Collective Investment Funds Law by making statements known to be misleading, false or deceptive to induce investment.
• False claims exposed: QFX has never been incorporated in Jersey, and the offering document falsely names Andium Trust Company Limited as registered agent and Carey Olsen as legal adviser, and contains references to fictitious Jersey legislation; BBA Capita Capital Management LLP is also stated to have no connection to Capita Group Plc.
• Call for information: Anyone who has had dealings with BBA Capita Capital Management LLP, the named funds, or the named individuals is asked to contact the Commission.

The statement functions as an investor protection warning rather than a compliance directive to regulated firms; no licensing, filing or reporting obligations are created for authorised entities by this notice.