PRESS RELEASE 18 MARCH 2014
COLLECTIBLES - COLLECT FOR PLEASURE, INVEST WITH CARE
As a result of recent marketing campaigns, the Commission has been asked whether it regulates investments in stamps and other collectible items in Jersey. The Commission does not normally regulate these kinds of investments.
The Commission only has the power to regulate particular types of investments under the laws and regulations of Jersey as defined by Schedule 1 of the Financial Services (Jersey) Law 1998. This means that, even though collectible items may be marketed as “investments”, it is likely that neither the products nor the service provider are regulated by the Commission.
The Commission strongly recommends that any members of the public who are considering making such investments carefully consider taking independent professional advice before doing so.
Members of the public are reminded that the value of any type of investment may go down as well as up and that they may not always receive the amount they invested.
Further information about investing in collectibles can be found on the Protect Your Money website by clicking here.
- Ends -
For further information please contact: -
|John Harris - Director General
Jersey Financial Services Commission
Tel: + 44 (0) 1534 822028
Fax: + 44 (0) 1534 822002
- Notes to Editors -
- Protect Your Money is a consumer education initiative from the Jersey Financial Services Commission. The aim of the Protect Your Money website is to provide consumers with clear, impartial information and guidance in relation to financial products, so that they can have greater control of their financial affairs and the confidence to make informed decisions when choosing such products.
- The types of investments, where the products and/or the service provider are regulated by the Commission, are set out in the Schedule 1 to the Financial Services (Jersey) Law 1998 and can be accessed on the JerseyLaw website.