Jersey Financial Services Commission Logo

PRE 2004

www.standardbankgrp.org - 2 September 2003

Public Statement - www.standardbankgrp.org

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

www.standardbankgrp.org

The purpose of this statement is to advise the public of a website www.standardbankgrp.org ("the website") which purports to represent Standard Bank Offshore. The entities purporting to operate from the website have not received authorisation to conduct financial service 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 genuine Standard Bank Offshore is a registered business name of Standard Bank Offshore Group Limited, which is the parent company of the following genuine authorised banking, trust company and investment businesses that are regulated or associated with regulated entities in Jersey and the Isle of Man:

  • Standard Bank Jersey Limited
  • Standard Bank Offshore Trust Company Jersey Limited
  • Standard Bank Offshore Trust Company (Mauritius) Limited
  • Standard Bank Asset Management Jersey Limited
  • Standard Bank Fund Administration (Jersey) Limited
  • Standard Bank Unit Trusts Jersey Limited
  • Standard Bank Isle of Man Limited
  • Standard Bank Trust Company (Isle of Man) Limited
  • Melville Douglas International Limited

The Commission wishes it to be known that:

1. The entities purporting to operate from the website 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 entities purporting to operate from the website 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 website appears to have been copied, in parts, from the website of the genuine Standard Bank Offshore but is not associated with it, or endorsed by it, or its affiliates.

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

Any person who has had dealings with entities purporting to operate from the website is requested to contact the Commission.

Gary Godel
Director Enforcement
Jersey Financial Services Commission.

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

2 September 2003

Top

< Back to contents