Banking on Jersey

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Standard Chartered Jersey Problems

Post by Selebi on Wed 02 May 2012, 6:06 pm

In case anyone is thinking about using Standard Chartered on Jersey for their savings please think again.

In May 2008 the Senior Investment Adviors at Standard Chartered told me a long string of lies in order to sell the Standard Chartered Jersey Ltd European Banking Recovery Note. Through these lies she persuaded me to invest 100,000 of our retirement savings. Having got agreement the advisor switched the money to another Lehman USA product. In Sep 2008 we were informed that sorry your 100% protected savings are lost and it is not our responsibility.

After complaining to SCJL they carried out an internal review in late 2008, which we saw for the first time this year. This review, which SCJL has buried, confirms that the advisor lied and in addition she falsified the suitability assessment. The official position of SCJL is that they have done nothing wrong and it is not their problem.

A disgrace all round by Standard Chartered - for full details please see

Standard Chartered The World's worst Bank on you tube .

In case you wonder why Jersey Financial Services Commission have not solved the problem well...

The bank's internal review confirms that the lies were told but JFSC refuses to take any action. They say that they do not consider specific points of complaint. One manager at JFSC said that telling lies was persuasive marketing while another said that switching investments without authority was not material.

You can look on you tube under Jersey Financial Services commission observations



be aware. It is not safe

thank you





Last edited by Dell on Wed 02 May 2012, 7:46 pm; edited 1 time in total (Reason for editing : Name of subscriber removed.)

Selebi

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Re: Banking on Jersey

Post by Selebi on Wed 02 May 2012, 8:30 pm

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Last edited by Selebi on Thu 17 May 2012, 2:14 pm; edited 2 times in total (Reason for editing : Same topics merged.)

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Re: Banking on Jersey

Post by boatyboy on Wed 09 May 2012, 9:56 am

Why is it that when the Government in Jersey has a problem, rather than drag it out into the open wash it once and wash it whiter than white, they just hope it will go away, and die a natural death side stepping their published and moral responsibilities, see JFSC website below.

More than five hundred people and rising, have seen the videos about Standard Chartered Jersey Ltd and it makes uncomfortable viewing, because the Jersey Financial Services Commission ( the Jersey regulator and financial policeman ) are not investigating properly, and policing their own rules. Their WEB site makes a statement about honesty.

http://www.jerseyfsc.org/the_commission/about_us/purposeandaims.asp

The good news is that so far no reports from Guernsey about the inability of Financial Institutions to follow a code of conduct laid down by the Guernsey Financial Commission, maybe they care more about Guernseys' international professional reputation.

Unless the Jersey Government with its marketing campaign trying to persuade investors to put their money in Jersey takes some serious action over this issue, there is a good chance that like tourism, investors will see Guernsey as a better place to visit and invest their money taking more business from Jersey.

View the main video plus two others in the right hand menu and make up your own mind.

https://www.youtube.com/watch?v=_J-SebK9gKI&feature=related

Boatyboy.




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Re: Banking on Jersey

Post by Calimachon on Wed 09 May 2012, 11:14 am

Well my way of thinking is if you have been found to have been doing wrong put your hands up and admit the error and put right the mistake. Especially if there is proof that there has been a wrongdoing.

Just don't keep digging the hole because the bigger the hole becomes you will never get out of it.

I am very upset about the image of Jersey being dragged through the muck like this. It is such a terrible shame. I am even more sorry that an innocent person should be treated in such a shabby manner by fat cats who purport to represent Jersey. These fat cats at Standard Chartered Bank are not fit to represent our island and something should be done about it.

Cali
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Re: Banking on Jersey

Post by Selebi on Wed 09 May 2012, 2:40 pm

Thank you both for your comments. Appreciated

Selebi

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Re: Banking on Jersey

Post by boatyboy on Mon 14 May 2012, 10:57 pm

More jobs lost in Jersey at HSBC relocating to Guernsey.



HSBC Private Bank is quitting Jersey.

CTV

The company has announced this arm of its business is moving solely to Guernsey, with Jersey focussing on the trustee business.

It's not yet known how many jobs will be affected.

http://www.channelonline.tv/channelonline_guernseynews/displayarticle.asp?id=499489

bb

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Re: Banking on Jersey

Post by Selebi on Thu 17 May 2012, 2:19 pm

In the you tube clip https://www.youtube.com/watch?v=_J-SebK9gKI&feature=related

I noted that the Jersey Police had declined to follow up on my complaint as they could not prove that the advisor had lied deliberately.

It has been pointed out to me and now to the police that it is not necessary to intend to lie, simply lying when selling an investment is an offence. Hopefully the Jersey police are now reviewing, again, the actions of the Standard Chartered advisor.

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Re: Banking on Jersey

Post by boatyboy on Sun 10 Jun 2012, 3:45 pm

Hi All,

Just to update you on Georges battle to get his money back, he has done a Video interview. I hope Guernsey's financial regulator reads this website looks like more business coming your way, providing Guernsey looks after the investor money of course. Trust is everything Surprised

Jersey Regulation is like the Wild West.
http://voiceforchildren.blogspot.com/

Protest video by George Burrow.
https://www.youtube.com/watch?v=_J-SebK9gKI&feature=related

The 1967 investors law which the Jersey police seem to be ignoring.

http://planetjersey.co.uk/forum/index.php/topic,2823.msg55179.html#msg55179

bb

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Re: Banking on Jersey

Post by boatyboy on Thu 14 Jun 2012, 7:22 pm


JEP

Mr Burrow accuses Standard Chartered of selling him an investment that was meant to be risk-free but proved to be worthless after the collapse of Lehman Brothers in 2008. He had a series of meetings in the Island with a variety of people, but it would appear that no significant progress has been made.

http://www.thisisjersey.com/business/2012/06/13/man-wages-a-placard-protest-against-bank/

bb

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Re: Banking on Jersey

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