Channel Offshore Bank

Public Statement

Channel Offshore Bank ("COB")

www.channeloffshore.com (the "Website")

support@channeloffshore.com and info@channeloffshore.com (together, the "Email Addresses")

Banking Business (Jersey) Law 1991, as amended (the "Banking Business Law")

The Jersey Financial Services Commission (the "Commission") issues this public statement under Article 48(2) of the Banking Business Law.

This statement is made in order to warn investors and others against dealing with unauthorised financial service providers. COB has not received authorisation to conduct deposit-taking business within the meaning of the Banking Business Law.

It appears to the Commission that COB, as described on the Website, is falsely purporting to trade from an address of PO Box 998, St. Helier, Jersey, Channel Islands and is carrying on, or holding out that it is carrying, on deposit-taking business in Jersey when it is not authorised to do so pursuant to the provisions of the Banking Business Law.

The Commission wishes the following to be known:

1. COB has never been registered, nor applied for registration, under the Banking Business Law. Therefore any desposit-taking business, as defined in Article 3 of the Banking Business Law and carried out by COB since 1 October 1991, is in breach of Article 8 of the Banking Business Law.

2. From documentation held by the Commission, it appears COB, the Website and the Email Addresses display warning signs of being set up for a fraudulent purpose.

All regulated businesses in Jersey are listed on our website.

Any person who has had dealings with COB is requested to contact the Commission.

Jersey Financial Services Commission

14-18 Castle Street

St. Helier

Jersey

JE4 8TP

Contact Barry Faudemer – b.faudemer@jerseyfsc.org

17 November 2014