Standard National Bank & Trust ("SNBT")
Public Statement - Standard National Bank & Trust ("SNBT")
This statement is made in order to warn investors and others against dealing with unauthorised financial services providers.
Standard National Bank & Trust ("SNBT")
www.stanbankgrp.org
The purpose of this statement is to advise the public that Standard National Bank & Trust ("SNBT"), which is purportedly represented by the website www.stanbankgrp.org, has 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 SNBT website implies that SNBT 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. SNBT 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 6 of the Financial Services Law.
2. SNBT 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 7 of the Banking Business Law.
3. SNBT is not connected in any way to the genuine authorised banking, trust company and investment businesses in Jersey of the Standard Bank Offshore Group 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 SNBT is requested to contact the Commission.
Gary Godel
Director Enforcement
Jersey Financial Services Commission
Nelson House,
David Place,
St. Helier,
Jersey,
JE4 8TP.
20 January 2004