Standard National Bank & Trust ("SNBT") (2004-01-20)

Summary

This is a public warning notice issued by the Jersey Financial Services Commission (JFSC) alerting the public that Standard National Bank & Trust (SNBT), operating via the website www.stanbankgrp.org, is not authorised to conduct financial service business or deposit-taking business in Jersey.

• No financial services registration: SNBT has never been registered or applied for registration under the Financial Services (Jersey) Law 1998, so any financial service business it has carried out since 1 July 1999 breaches Article 6 of that Law.
• No banking registration: SNBT has never been registered or applied for registration under the Banking Business (Jersey) Law 1991, so any deposit-taking business it has carried out since 1 October 1991 breaches Article 7 of that Law.
• No Jersey presence: The SNBT website falsely implies it has an office in Jersey; it does not.
• No connection to genuine entity: SNBT is not connected to the genuine, authorised Standard Bank Offshore Group Limited businesses in Jersey.

The notice asks anyone who has dealt with SNBT to contact the Commission. It is a warning statement rather than a document imposing ongoing regulatory obligations on licensed firms.

Key obligations

• Any person who has had dealings with SNBT is requested to contact the Commission.

Applies to

unauthorised financial services providers, members of the public dealing with SNBT