Ulverston Offshore Bank (2013-11-13)

Summary

This is a public statement issued by the Jersey Financial Services Commission under Article 48(2) of the Banking Business (Jersey) Law 1991, warning the public about an entity calling itself Ulverston Offshore Bank, which operates the website www.ulverstonbank.co.uk.

• Not authorised: Ulverston has never been registered, nor applied for registration, under the Banking Business Law, and has not received authorisation to conduct deposit-taking business in Jersey.
• False claims: Ulverston falsely purports to trade from an address at Dalston House, 66 Esplanade, St Helier, Jersey, and appears to be carrying on, or holding out that it is carrying on, deposit-taking business without authorisation, in breach of Article 8 of the Banking Business Law.
• Fraud concern: Documentation held by the Commission indicates Ulverston and its website display warning signs of being set up for a fraudulent purpose.
• Public request: Anyone who has had dealings with Ulverston is asked to contact the Commission.

The statement is purely a warning notice to protect consumers and does not create ongoing compliance obligations for regulated financial services businesses in Jersey.