United Assets and Finance ("UAF") (2004-03-23)

Summary

This is a public statement issued by the Jersey Financial Services Commission warning the public and investors that United Assets and Finance (UAF), which represents itself via the website www.uafonline.com, is not authorised to conduct financial service business or deposit-taking business in Jersey. The Commission notes that UAF's website falsely implies it has an office in Jersey.

• Financial services breach: UAF has never registered or applied for registration under the Financial Services (Jersey) Law 1998; any financial service business it has conducted since 1 July 1999 breaches Article 6 of that Law.
• Deposit-taking breach: UAF has never registered 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.
• Public warning basis: The statement is issued under Article 22 of the Financial Services (Jersey) Law 1998 and Article 45B of the Banking Business (Jersey) Law 1991 to warn against dealing with this unauthorised provider.

The Commission asks anyone who has had dealings with UAF to contact it. This is an informational enforcement warning rather than a document imposing ongoing compliance obligations on regulated entities.

Key obligations

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

Applies to

unauthorised financial services providers, members of the public and investors