Public Statement - Fidelity Investment UK-Channel Island
This statement is made in order to warn investors and others against dealing with unauthorised financial services providers.
Mr William Davis (“Mr Davis”)
Wdavis002@jumpy.it (the ”Email Account”)
firstname.lastname@example.org (the “Correspondence Account”
Fidelity Investment UK-Channel Island (“Fidelity CI”)
The Jersey Financial Services Commission (the “Commission”) believes that Mr Davis, via bogus emails in which he attempts to associate himself with a genuine investment management firm, is carrying on, or holding out that he is carrying on, financial services business and collective investment funds business in Jersey when he is not authorised to do so pursuant to the provisions of the Laws stated below.
The Commission has issued this public statement under Article 25(2) of the Financial Services (Jersey) Law 1998, as amended (“the Financial Services Law”) and Article 17(2) of the Collective Investment Funds (Jersey) Law 1988 (“the Collective Investment Funds Law”).
The Commission wishes it to be known that:
- The Commission is in possession of information and documents that show Mr Davis, through use of
a fraudulent email originating from the Email Account, purports to represent Fidelity Investment
UK-Channel Island (“Fidelity CI”). It should be noted that there is a genuine group, namely the Fidelity International Limited Group of companies. Please note that Fidelity CI, the fraudulent email referred to above, the Email Account, the Correspondence Account and Mr Davis are not connected in any way to the Fidelity International Limited Group of companies. The Fidelity International Limited Group of companies is an asset management group and provider of financial services. The Fidelity International Group of companies includes a number of companies regulated
in the UK by the Financial Services Authority (“FSA”) to carry on regulated activities. Please refer to the Fidelity International Limited Group website at www.fidelity.co.uk and the FSA website at www.fsa.gov.uk for further information.
- Mr Davis and Fidelity CI are not authorised by the Commission to conduct any activities that would fall under the Financial Services Law, therefore any financial services business, as defined in Article 2 of the Financial Services Law and carried out by Mr Davis or Fidelity CI since 1 July 1999 is a breach of Article 7 of the Financial Services Law.
- Mr Davis and Fidelity CI are not authorised by the Commission to conduct any activities that would fall under the Collective Investment Funds Law, therefore any collective investment funds business, as defined in Article 3 of the Collective Investment Funds Law and carried out by Mr Davis or Fidelity CI since 1 June 1988 is a breach of Article 5 of the Collective Investment Funds Law.
- From the information and documentation held by the Commission, it would appear that Fidelity CI, the Email Account and the Correspondence Account display all the warning signs of being set up for a fraudulent purpose.
All regulated businesses in Jersey are listed on the Commission’s website at www.jerseyfsc.org.
Any person who has had dealings with Mr Davis or Fidelity CI is requested to contact the Commission.
Jersey Financial Services Commission
11 January 2007