Remington York Ltd
This notice is issued by the Financial Supervision Commission (“the Commission”) in accordance with the powers conferred upon it under Section 22 of the Financial Supervision Act 1988.
Remington York Ltd
Remington FTSE Index Funds
Remington Index Funds
FTSE Index Funds
The Commission has recently become aware of documentation which refers to “Remington York’s ‘FTSE Index theory’ hedge fund” and the “FTSE Index Fund”. This documentation states “The Specialized Hedge Funds (there are three FTSE Index Funds for varying risk levels ranging from conservative to rather aggressive) are based in the protected British Crown Colonies of Isle of Man …”.
Further documentation seen by the Commission states that “Remington York Ltd., is a Belize domiciled corporation established under the laws of Belize.” This entity is stated to be the Fund Manager of the Remington FTSE Index Funds (also referred to as the Remington Index Funds).
The Commission wishes to draw attention to the following observations: Remington York Ltd is the subject of a Warning Notice issued by the Belize International Financial Services Commission. The Warning Notice advises that Remington York Ltd is not licensed by the International Financial Services Commission of Belize to engage in the business of international collective investment schemes or any other promotional activity. The full text of the Belize Warning Notice.
The above entities are not companies incorporated within the jurisdiction of the Isle of Man. They are not registered as foreign companies having established a place of business on the Isle of Man. They are not registered as business names on the Isle of Man.
Remington York Ltd is not nor ever has been, licensed by the Financial Supervision Commission to undertake Banking, Investment or Fiduciary business in or from the Island. The above listed Funds are not registered by the Financial Supervision Commission as Authorised Collective Investment Schemes, International Collective Investment Schemes (including Professional Investor Funds, Experienced Investor Funds and Overseas Funds), or Recognised Collective Investment Schemes.
The Commission has established no association between these entities and any genuine Isle of Man company.
The Commission has established no genuine links between these entities and the Isle of Man.
Under the circumstances, the Commission would strongly urge persons considering dealing with the above entities to exercise the greatest possible caution before proceeding, bearing in mind the contents of this public notice. Persons considering dealing with the above entities should be absolutely clear that they are not regulated in the Isle of Man. Any safeguards provided by such regulation will not, therefore, apply in relation to your dealings with them.
A list of all institutions licensed and regulated by the Commission and schemes registered with the Commission is available on our website.
Any persons who are already involved in any dealings with the above entity and have concerns should contact the Enforcement Division on +44 1624 689315 or by email to [email protected].
FSC Reference: KL/12/2006