Public Statement - Standard
Chattered Bank
Standard Chattered Bank (“Standard Chattered”)
www.standardchatteredbank.co.uk (the “Website”)
The Commission believes that Standard Chattered, through the use
of the Website, is carrying on or holding out that it is carrying
on banking and investment business in Jersey when it is not authorised
to do so pursuant to the provisions of the Laws stated below.
However, it should be noted that there is a genuine group, namely
the Standard Chartered Group. Standard Chattered and the Website
are not, in any way, connected to the genuine Standard Chartered
Group. Companies in the Standard Chartered Group have a presence
in Jersey and other jurisdictions. Please refer to the Standard
Chartered Group website at www.standardchartered.com for further
information.
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 48(2) of the Banking
Business (Jersey) Law 1991, as amended (the “Banking Business
Law”).
The Commission wishes it to be known that:
- Standard Chattered has never been registered, or applied for
registration, under the Financial Services Law. Therefore, any
investment business, as defined in Article 2 of the Financial
Services Law carried out since 1 July 1999, is a breach of Article
7 of the Financial Services Law.
- Standard Chattered 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.
- Standard Chattered and the Website are not connected in any
way to the Standard Chartered Group. The Standard Chartered Group
has headquarters in the UK and has a presence in various jurisdictions
including Jersey. The Standard Chartered Group is authorised in
the UK by the Financial Services Authority (the “FSA”)
to carry on regulated activities. Please see the FSA website at
www.fsa.gov.uk and the Standard
Chartered Group website at www.standardchartered.com
for further information.
- Companies within the Standard Chartered Group are also authorised
by the Commission to conduct banking and investment business within
the meaning of the laws stated above. The Commission is in possession
of information and documents which show that Standard Chattered,
through the use of the Website, purport to have a contact address
in Jersey of 15 Castle Street, St. Helier, Jersey, Channel Islands,
Great Britain. The address quoted on the Website does exist and
is the address of the genuine authorised banking and investment
business provided in or from within Jersey by companies within
the Standard Chartered Group. Please see the Commission website
at www.jerseyfsc.org and the Standard Chartered Group website
at www.standardchartered.com
for further information.
All regulated businesses in Jersey are listed on the Commission’s
website at www.jerseyfsc.org.
Any person who has had dealings with Standard Chattered is requested
to contact the Commission.
Gary Godel
Director Enforcement
Jersey Financial Services Commission
Nelson House,
David Place,
St. Helier,
Jersey,
JE4 8TP.
15 December 2006
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