Schorders CI (2003-07-23)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) alerting the public that an entity calling itself Schorders is not authorised to conduct financial service or deposit taking business in Jersey. It is purely informational and does not create ongoing regulatory obligations for licensed firms.

• Unauthorised entity: Schorders has never been registered or applied for registration under the Financial Services (Jersey) Law 1998 or the Banking Business (Jersey) Law 1991.
• Alleged conduct: Any financial service business it has carried out since 1 July 1999 would breach Article 6 of the Financial Services Law, and any deposit taking business carried out since 1 October 1991 would breach Article 7 of the Banking Business Law.
• No connection to genuine Schroders: The entity is not connected to the Schroder Holdings plc group, which includes the authorised Schroders (C.I.) Limited.
• Fake website: A website (www.schroders-ci.com) falsely purports to represent the genuine Schroders entity.
• Public request: Anyone who has dealt with the entity calling itself Schorders is asked to contact the Commission.

The statement serves as a warning notice rather than imposing new compliance duties on regulated firms; its main practical effect is to caution the public and direct anyone with dealings with the entity to notify the JFSC.

Applies to

unauthorised financial services providers, members of the public dealing with unregulated entities