Sterling Fund & Co Wealth Management (2018-04-19)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) on 19 April 2018 warning the public about Sterling Fund & Co Wealth Management (Sterling), an entity purporting to conduct financial service business from an address in St. Helier, Jersey without any authorisation under the Financial Services (Jersey) Law 1998.

• Unauthorised status: Sterling has never been registered, nor applied for registration, under the FS(J)L; any financial service business it has carried out in or from Jersey since 1 July 1999 breaches Article 7 of the FS(J)L.
• Fraud warning signs: The JFSC states that documentation held on Sterling, its website and its email address display warning signs consistent with a fraudulent setup.
• Purpose of statement: Issued under Article 25(d) of the FS(J)L to warn investors and others against dealing with unauthorised financial service providers.
• Call to action: Anyone who has had dealings with Sterling is asked to contact the JFSC.

This is a purely informational warning notice rather than a rule or requirement imposed on regulated entities; it does not create ongoing compliance obligations for JFSC-licensed firms, but firms should note the entity as unauthorised and potentially fraudulent when conducting due diligence or client screening.