SPEACC Finance (2004-05-04)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission alerting the public that SPEACC Finance, operating via the website www.speacc.com, is not authorised to carry on deposit taking or insurance business in Jersey. The Commission notes SPEACC's website falsely implies it has a Jersey office.

• Banking: SPEACC has never been registered under, or applied for registration under, the Banking Business (Jersey) Law 1991. Any deposit taking business it has conducted since 1 October 1991 breaches Article 7 of that Law.
• Insurance: SPEACC has never been registered under, or applied for registration under, the Insurance Business (Jersey) Law 1996. Any insurance business it has conducted since 1 October 1996 breaches Article 4 of that Law.
• Public request: Anyone who has had dealings with SPEACC is asked to contact the Commission.

The statement is purely a warning notice issued under Article 45B of the Banking Business Law and Article 39A(2) of the Insurance Business Law; it does not create ongoing regulatory obligations for licensed entities but invites the public to report contact with SPEACC.

Key obligations

• Any person who has had dealings with SPEACC Finance is requested to contact the Jersey Financial Services Commission

Applies to

unauthorised deposit-taking business operators, unauthorised insurance business operators, members of the public dealing with SPEACC Finance