Urban Private Finance (2007-10-19)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission under Article 48(2) of the Banking Business (Jersey) Law 1991. It alerts investors and the public that Urban Private Finance and Urban Private Finance Corporation (together, UPF) are not authorised to conduct deposit-taking business in Jersey.

• Unauthorised activity: UPF has never been registered or applied for registration under the Banking Business Law, and any deposit-taking business it has carried out since 1 October 1991 breaches Article 8 of that Law.
• Fraud concern: The Commission states that documentation it holds suggests UPF displays warning signs of being set up for a fraudulent purpose.
• Public action requested: Anyone who has had dealings with UPF is asked to contact the Commission.

The statement is purely informational and protective in nature, aimed at warning the public rather than imposing ongoing compliance requirements on regulated firms.