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2004

Douglas St. James - 8 March 2004

Public Statement - Douglas St. James

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

Douglas St. James

The purpose of this statement is to advise the public that Douglas St. James ("DSJ") has not received authorisation to conduct financial services business as defined within the meaning of the Law stated below.

The Commission has recently been made aware that Douglas St. James, an investment firm possibly located in Switzerland, is offering investment-brokering services to local residents by canvassing potential investors with unsolicited telephone calls ("cold calling").

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").

The Commission wishes it to be known that:

1. DSJ has never been registered, nor 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 in breach of Article 6 of the Financial Services Law.

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

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

Gary Godel
Director Enforcement
Jersey Financial Services Commission

Nelson House,
David Place,
St. Helier,
Jersey,
JE4 8TP.

8 March 2004

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