www.standardbankgrp.org (2003-09-02)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning the public about an unauthorised website, www.standardbankgrp.org, which falsely purports to represent the genuine Standard Bank Offshore group. It is an investor warning notice, not a rule change, and imposes no ongoing regulatory obligations on licensed firms.

• Nature of warning: The website's operators have never been registered or applied for registration under the Financial Services (Jersey) Law 1998 or the Banking Business (Jersey) Law 1991.
• Alleged breaches: Any financial service business conducted via the website since 1 July 1999 would breach Article 6 of the Financial Services Law; any deposit-taking business conducted since 1 October 1991 would breach Article 7 of the Banking Business Law.
• Genuine entities identified: The statement lists the genuine authorised Standard Bank Offshore group companies in Jersey and the Isle of Man that are unconnected with the fraudulent website.
• Public action requested: Anyone who has dealt with the website's operators is asked to contact the Commission.

The statement was issued under Article 22 of the Financial Services (Jersey) Law and Article 45B of the Banking Business (Jersey) Law, and is signed by the Director of Enforcement. It serves purely to inform and protect the public rather than to create compliance duties for regulated firms.

Applies to

unauthorised website operators purporting to be Standard Bank Offshore, members of the public and investors