Islanders warned over finance firm approaches

The company, claiming to be called Focus on Market, is offering local residents investment opportunities in shares, stocks and foreign exchange transactions.

The Jersey Financial Services Commission says the firm is not regulated either in Jersey or Australia. Any investment business wishing to operate in the Island must be licensed by the JFSC or hold an appropriate exemption. The commission says Islanders should be ‘mindful of any unsolicited approaches by investment businesses’ and should carry out background checks before investing money or providing personal details.

Barry Faudemer, JFSC director of enforcement, said: ‘We would recommend that you always independently verify any investment firm, manager or adviser.

‘Check to see if they are licensed by the JFSC or, if they state that they are licensed in another jurisdiction, check the details with the relevant financial regulatory authority there. We would always advise taking independent professional advice before making any investment, and never be afraid to ask questions.’

Source:-jerseyeveningpost