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Intereuropebank & European Private Investment Bank - 26 November 2002

Public Statement - Intereuropebank & European Private Investment Bank

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

Intereurope Bank
intereuropebank.com
Intereurope Bank Bank Finance Company (Jersey) Limited

European Private Investment Bank
europeanprivateinvestmentbank.com
European Private Investment Bank Bank Finance Company (Jersey) Limited

The purpose of this statement is to advise the public that Intereurope Bank, European Private Investment Bank and their associated entities have not received authorisation to conduct either investment or deposit taking business within the meaning of the below mentioned Laws.

The Commission has recently become aware of the activities of the above entities, which, according to two separate websites www.intereuropebank.com and www.europeanprivateinvestmentbank.com, purported to have offices in this jurisdiction and to be licenced by the 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 known that:

1. None of the above entities have ever held, or applied for, a licence under the Financial Services Law. Therefore any investment business, as defined in Article 2 of the Financial Services Law carried out by any of the above entities since 1 July 1999 is a breach of Article 6 of the Financial Services Law.

2. None of the above entities have ever held, or applied for, a licence under the Banking Business Law. Therefore any deposit taking business, as defined in Article 3 of the Banking Business Law carried out by any of the above entities 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 above entities and the Jersey addresses quoted on their websites.

4. Clearly words such as "investment bank" and "bank finance" 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. All regulated businesses are listed on this web site www.jerseyfsc.org

The Commission requests that any person who has had dealings with any of the above entities contact the Commission.

Gary Godel
Director Enforcement
Jersey Financial Services Commission

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

26 November 2002

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