William Smith Partners (2010-03-03)

Summary

This is a public statement issued by the Jersey Financial Services Commission under Article 25(d) of the Financial Services (Jersey) Law 1998 to warn investors and the public about an unauthorised financial services provider, William Smith Partners, operating via the website williamsmithpartners.com.

• Unauthorised activity: William Smith Partners has never been registered, nor applied for registration, under the Financial Services Law, and has been cold-calling Jersey residents offering investment advice.
• Legal breach: Any financial service business carried out by William Smith Partners since 1 July 1999 is in breach of Article 7 of the Financial Services Law.
• Fraud warning: Documentation held by the Commission suggests William Smith Partners and its website display warning signs of being set up for a fraudulent purpose.
• Call to action: Anyone who has had dealings with William Smith Partners is asked to contact the Commission, and the public is reminded that all regulated businesses in Jersey are listed on the Commission's website.

This is an informational warning notice rather than a rule imposing ongoing compliance obligations on regulated entities; it primarily targets consumers and unauthorised firms.

Applies to

unauthorised financial services providers, investors and members of the public