PUBLIC STATEMENT  

This statement is made in order to warn investors and others against dealing with unlicensed financial services providers

 

ATLANTIC TRUST BANK [“ATB”]

 

The purpose of this statement is to advise the public that ATB is not licensed to conduct financial services business within the meaning of the Financial Services Development Act 2001 (“FSD Act”).

 

The Commission has recently become aware of a website, www.atlanticbanktrust.com  that stated that ATB comprises a number of companies located in offshore jurisdictions including Mauritius and further implies that ATB is subject to regulation.

 

The Financial Services Commission (“FSC”) has issued this public statement by virtue of its powers to preserve and maintain the good repute of Mauritius in the financial services sector; and to take measures for the better protection of consumers of financial services (section7(1) and section 6(i) & (k) of the FSD Act).

 

The object of this public statement is to make the public aware that:

 

ATB has never been licensed, or applied for a licence, under the Financial Services Development Act. Therefore, any financial services business, as defined in section 2 of the FSD Act that may have been carried out by ATB in or from within Mauritius is a breach of section 14 of the FSD Act. Even though the website described above may no longer refer to Mauritius, members of the public should be aware of the content of this public statement.

 

Any person who has had dealings with ATB is requested to contact FSC as follows.

 

M. I. Rajahbalee

Chief Executive

Financial Services Commission

4 Floor, Harbour Front Building

President John Kennedy Street

Port Louis

Tel:      (230) 210 7000

Fax:    (230) 208 7172

E-mail: fscmauritius@intnet.mu

 

19 May 2003