Union Bancaire Private Financial Bank Corp & UBPB Private Bank

Public Statement - Union Bancaire Private Financial Bank Corp UBPB Private Bank

The Commission has issued this public statement under Article 48(2) of the Banking Business (Jersey) Law 1 991 , as amended (the "Banking Business Law").

This statement is made in order to warn investors and others against dealing with unauthorised financial services providers. The persons named below have not received authorisation to conduct: deposit-taking business within the meaning of the Banking Business Law.

Union Bancaire Private Financial Bank Corp & UBPB Private Bank (collectively "UBP PB")

www.upbponl.com ("the Website")

The Commission believes that UBP PB, through the use of the Website, is carrying on or holding out that it is carrying on deposit-taking in Jersey when it is not authorised to do so pursuant to the provisions of the law stated above.

The Commission wishes it to be known that:

1. UBP PB 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;

2. UBP PB is not connected in any way to Union Bancaire Privée, Jersey Branch and companies within the Union Bancaire Group. The Group has headquarters in Switzerland and has a presence in various jurisdictions including Jersey. Union Bancaire Privée, Jersey Branch is authorised by the Commission to conduct regulated activities.

3. From the documentation held by the Commission, it would appear that UBP PB displays warnin 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 UBP PB is requested to contact the Commission.

Helen Hatton
Deputy Director General
Jersey Financial Services Commission
14 - 18 Castle Street
St. Helier
Jersey
JE4 8TP
7 August 2008