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2004

Piccadilly Finance - 23 November 2004

Public Statement - Piccadilly Finance

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

Piccadilly Finance
Piccadilly Finance Center
Continental Trust Bank

(Collectively “Piccadilly Finance”)

www.piccadillyfn.com (the “website”)

Piccadilly Finance 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. Piccadilly Finance has 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. Piccadilly Finance has 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 the Jersey address quoted on the website is fictitious.

4. Piccadilly Finance are not connected in any way to Piccadilly Directors Limited which are listed, together with all other regulated businesses, on the Commission’s web site at www.jerseyfsc.org.

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

Gary Godel
Director Enforcement
Jersey Financial Services Commission

Nelson House
David Place
St. Helier
Jersey
JE4 8TP

23 November 2004

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