AIB Private Bank (Jersey) Limited
Public Statement - AIB Private Bank (Jersey) Limited
This statement is made in order to warn investors and others against dealing with unauthorised financial services providers.
AIB Private Bank (Jersey) Limited
AIB Online
AIB Plc
AIB Online Bank
Platinum Merchant Bank
Platinum Merchant Management
Platinum Merchant
www.aibonlinenet.com ("the old web address")
www.aibpb.com ("the new web address")
This statement updates a previous one issued on 19 May 2004, in respect of AIB Private Bank (Jersey) Limited, AIB Online, AIB Plc and adds the further names of AIB Online Bank, Platinum Merchant Bank, Platinum Merchant Management and Platinum Merchant to the list and advises the public that the names listed above are now purportedly represented by the new web address www.aibpb.com.
AIB Private Bank (Jersey) Limited, AIB Online, AIB Plc, AIB Online Bank, Platinum Merchant Bank, Platinum Merchant Management and Platinum Merchant have not received authorisation to conduct financial service or deposit-taking business within the meaning of the laws stated below.
The Commission has recently been made aware that the new website implies that AIB Online has an office in Jersey when it does not.
The Jersey Financial Services Commission ("the Commission") has issued this public statement under Article 22 of the Financial Services (Jersey) Law 1998, as amended (the "Financial Services Law") and Article 45B of the Banking Business (Jersey) Law 1991, as amended (the "Banking Business Law").
The Commission wishes it to be known that:
1. AIB Private Bank (Jersey) Limited, AIB Online, AIB Plc, AIB Online Bank, Platinum Merchant Bank, Platinum Merchant Management and Platinum Merchant have 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 6 of the Financial Services Law.
2. AIB Private Bank (Jersey) Limited, AIB Online, AIB Plc, AIB Online Bank, Platinum Merchant Bank, Platinum Merchant Management and Platinum Merchant have 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 7 of the Banking Business Law.
3. AIB Private Bank (Jersey) Limited, AIB Online, AIB Plc, AIB Online Bank, Platinum Merchant Bank, Platinum Merchant Management and Platinum Merchant are not connected in any way to the genuine authorised banking and investment businesses in Jersey of AIB Bank (CI) Limited, which are listed, together with all other regulated Jersey businesses, on the Commission's website at www.jerseyfsc.org.
Any person who has had dealings with AIB Private Bank (Jersey) Limited, AIB Online, AIB Plc, AIB Online Bank, Platinum Merchant Bank, Platinum Merchant Management and Platinum Merchant is requested to contact the Commission.
Gary Godel
Director Enforcement
Jersey Financial Services Commission.
Nelson House,
David Place,
St. Helier,
Jersey,
JE4 8TP.
18 August 2004