Public Statement - NationWide Bank

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

NationWide Bank (“NationWide”)

www.nationwideb.com (the “Website”)

The Jersey Financial Services Commission (the “Commission”) has issued this public statement under Article 25(2) of the Financial Services (Jersey) Law 1998, as amended and under Article 48(2) of the Banking Business (Jersey) Law 1991, as amended.

The Commission believes that NationWide, through the use of the Website, is carrying on or holding out that it is carrying on financial service business and banking business in the Channel Islands and Ireland when it is not authorised to do so, and it is therefore desirable to issue a public statement concerning the Website in the interests of the public.

The Commission wishes it to be known that:

• The Commission is in possession of information and documents that show NationWide, through the use of the Website, infers that it has a presence in, or some association with the Channel Islands. Enquiries conducted by the Commission have found this to be false.
  
• The Website further quotes that NationWide has a presence in, or some association with Ireland. Enquiries conducted by the Commission have also found this to be false.
  
• NationWide is not connected in any way to the Nationwide Building Society (“NBS”), a UK based building society that is authorised in the UK by the Financial Services Authority (“FSA”) to carry on regulated activities. Please refer to the NBS website at www.nationwide.co.uk and the FSA website at www.fsa.gov.uk.
  
• NationWide is not connected in any way to the Irish Nationwide Building Society (“INBS”), a building society headquartered in Ireland that is authorised by the Financial Regulator to carry on regulated activities. Please refer to the INBS website at www.irish-nationwide.com and the Financial Regulator website at www.financialregulator.ie for further information.
  
• From the documentation held by the Commission it would appear that NationWide and the Website 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 NationWide is requested to contact the Commission.

Gary Godel
Director Enforcement
Jersey Financial Services Commission

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

29 November 2006

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