Public Statement - www.arran-funding.com

This statement is made by the Commission under Article 25(2) of the Financial Services (Jersey) Law 1998, as amended (“the Financial Services Law”) in order to warn investors and others against dealing with unauthorised financial services providers.

Fraud Alert

Arran Funding Limited (“Arran Funding”)
www.arran-funding.com (the “Website”)

The Commission believes that Arran Funding as described on the Website is carrying on or holding out that it is carrying on financial service business in or from Jersey, when it has no authorisation to do so pursuant to the provisions of the Law. However, it should be noted that there is a genuine company called Arran Funding Limited, which is incorporated and administered by Mourant, a bona-fide registered financial services provider based in Jersey and other jurisdictions. Arran Funding, as described on the Website and the Website are not, in any way, connected to the genuine Arran Funding Limited.

The Commission wishes it to be known that:

1. The Arran Funding as described on the Website has never been registered, or applied for registration, under the Financial Services Law. Therefore, any financial service business, as defined under Article 2 of the Financial Services Law, carried out in the name of Arran Funding Limited as described on the Website, since 1 July 1999, is a breach of Article 7 of the Financial Services Law.

2. The Commission is in possession of information and documents, which show that Arran Funding as described on the Website, purports to have a contact address in Jersey at 22 Grenville Street, St. Helier, Jersey, JE4 8PX, Channel Islands. The address quoted on the Website does exist and is the address of the genuine Arran Funding Limited, a company administered by an authorised financial service business provided in or from within Jersey by Mourant and its affiliated companies. Please see the Commission website at www.jerseyfsc.org and the Mourant Group website at http://www.mourant.com/section/140/index.html for further information.

3. The Commission can confirm that the Mourant employees with the same or similar names to the individuals mentioned on the website have no connection with the Arran Funding as described on the Website.

4. The Commission wish to alert members of the public that www.arran-funding.com provides false and misleading information and is not registered to conduct financial services business in or from Jersey.

All regulated businesses in Jersey are listed on the Commission’s website at www.jerseyfsc.org

Any person who has had dealings with Arran Funding as described on the Website is requested to contact the Commission.

Barry Faudemer
Director Enforcement
Jersey Financial Services Commission

14 - 18 Castle Street
St. Helier
Jersey
JE4 8TP
Email: B.Faudemer@jerseyfsc.org

30 August 2007

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