http://teco-finance.com, Teco-Finance.com LTD, Teco Finance Ltd, Teco-Finance.Com, FMSinvest LTD

Published on: 02 July 2007

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.

(Update to Public Warning reference KL/04/2007 issued 7 June 2007)

The Financial Supervision Commission has become aware of the above website which purports to represent the entities Teco-Finance.com LTD, Teco Finance Ltd, Teco-Finance.Com and FMSinvest LTD. These entities claim, within the websites, to have an address at Pierson House, 18-20 North Quay, Douglas, IM1 1QH, United Kingdom.

The above websites also refer to a genuine Isle of Man institution called Fund Management Services Limited.

Research undertaken by the Financial Supervision Commission has failed to establish the existence of the entities Teco-Finance.com LTD, Teco Finance Ltd, Teco-Finance.Com and FMSinvest LTD at this address. This address is similar to that of the genuine licensed entity, Fund Management Services Limited, on the Isle of Man. We note that the name of the building occupied by the genuine entity was recently changed from Pierson House to Fortis House and the post code was also changed. The genuine licensed entity, Fund Management Services Limited, has no connection to the above entities.

The entities Teco-Finance.com LTD, Teco Finance Ltd, Teco-Finance.Com and FMSinvest LTD are not companies incorporated within the jurisdiction of the Isle of Man. They are not registered as foreign companies having established places of business on the Isle of Man. They are not registered as business names on the Isle of Man.

The Financial Supervision Commission has been unable to establish any genuine connection between the entities Teco-Finance.com LTD, Teco Finance Ltd, Teco-Finance.Com and FMSinvest LTD and any persons on the Isle of Man.

Extensive enquiries carried out by the Commission have established that the aforementioned websites have not been published with, by or with the authority or consent of the genuine Fund Management Services Limited.

The genuine Fund Management Services Limited is the holder of a “Managers of Collective Investment Schemes” licence.

A list of all institutions licensed by the Commission is available on our website.

On 7 June 2007 the Commission issued a Public Warning in relation to the website www.fmsinvest.co.uk and www.fms-fund.com and the entities FMSinvest LTD, FMS-Fund LTD and OPFund LTD. The Commission notes the similarity between the website www.fmsinvest.co.uk featured in that Public Warning and the website referred to above.

Under the circumstances, the Commission would strongly urge persons considering dealing with these entities to exercise the greatest possible caution before proceeding, bearing in mind the contents of this public notice.

Any persons who are already involved in any dealings with the above entities and have concerns should contact the Enforcement Division on +44 1624 689315 or by email to fsc@gov.im.

Any persons who have paid funds to the entities Teco-Finance.com LTD, Teco Finance Ltd, Teco-Finance.Com and FMSinvest LTD should contact their local Police Fraud Unit without delay.

FSC reference: KL/07/2007