Public Statement - Leeds
Bank Plc
This statement is made in order to warn investors and others
against dealing with unauthorised financial services providers.
Leeds Bank Plc (“Leeds Bank”)
www.leedsb.com (“the Website”)
The Commission believes that Leeds Bank, through the use of the
Website, is carrying on or holding out that it is carrying on deposit-taking,
insurance and financial service business in Jersey when it 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”), Article 48(2) of the Banking
Business (Jersey) Law 1991, as amended (the “Banking Business
Law”) and Article 43(2) of the Insurance Business (Jersey)
Law 1996, as amended (the “Insurance Business Law”).
The Commission wishes it to be known that:
1. Leeds Bank has 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 7 of
the Financial Services Law.
2. Leeds Bank has 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 8
of the Banking Business Law.
3. Leeds Bank has never been registered, or applied for registration,
under the Insurance Business Law. Therefore, any insurance businesss,
as defined in Schedule 1 of the Insurance Business Law and carried
out since 1 October 1996, is a breach of Article 5 of the Insurance
Business Law.
4. From the documentation held by the Commission it would appear
that Leeds Bank displays 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 Leeds Bank is requested to
contact the Commission.
Helen Hatton
Deputy Director General
Jersey Financial Services Commission
Nelson House
David Place
St. Helier
Jersey
JE4 8TP
20 March 2007
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