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2004

City Fidelity Trust Bank - 4 October 2004

Public Statement - City Fidelity Trust Bank

This statement is made in order to warn investors and others against dealing with unauthorised financial services providers.

City Fidelity Trust Bank
City Fidelity Trust Bank International
City Fidelity Trust Bank Private Clients International
City Fidelity Trust Bank Worldwide
City Fidelity Trust Bank Channel Islands, UK
City Fidelity Worldwide
CFT Worldwide
City Fidelity Trust Bank Limited Worldwide
City Fidelity Trust Bank Group
International Personal Banking
International Premier Banking
International Corporate Services
Afrikaans Trust Bank

(Collectively the “CFTB entities”)

www.cityfidelitytrust.com (the “website”)

The CFTB entities have not received authorisation to conduct investment or deposit-taking business within the meaning of the laws stated below.

The Jersey Financial Services Commission (the “Commission”) has issued this public statement under Article 22 of the Financial Services (Jersey) Law 1998, as amended (the “Financial Services Law”) and Article 45B of the Banking Business (Jersey) Law 1991, as amended (the “Banking Business Law”).

The Commission wishes it to be known that:

1. The CFTB entities have never been registered, or applied for registration, under the Financial Services Law. Therefore any financial service business, as defined in Article 2 of the Financial Services Law and carried out since 1 July 1999, is a breach of Article 6 of the Financial Services Law.

2. The CFTB entities have never been registered, or applied for registration, under the Banking Business Law. Therefore any deposit-taking business, as defined in Article 3 of the Banking Business Law and carried out since 1 October 1991, is a breach of Article 7 of the Banking Business Law.

3. The Commission has established that no genuine links exist between the CFTB entities and the Island of Jersey.

4. Clearly words such as "international", "premier", and "personal banking" may be used, in various combinations, from time to time by legitimate regulated businesses. This notice does not apply to the use of such words by financial businesses that are properly regulated.

5. All regulated businesses are listed on the Commission’s web site at www.jerseyfsc.org.

Any person who has had dealings with the CFTB entities is requested to contact the Commission.

Gary Godel
Director Enforcement
Jersey Financial Services Commission

Nelson House
David Place
St. Helier
Jersey
JE4 8TP

4 October 2004

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