Public Statement - Fidelity
Investment UK-Channel Island
Public Statement
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”)
widavis002@yahoo.com (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 activites 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 activites 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.
Gary Godel
Director Enforcement
Jersey Financial Services Commission
Nelson House,
David Place,
St. Helier,
Jersey,
JE4 8TP.
11 January 2007
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