FCA issues warnings on 19 suspect firms in 7 days
The FCA has issued 19 warnings on unauthorised and clone firms in the past 7 days, a rate of nearly 3 per day.
Many of the firms were bogus firms, firms unauthorised to do regulated business in the UK or clones of legitimate UK regulated firms.
If the rate of warnings continues at the current speed the FCA will be issuing 1,000 warnings this year, a figure underlining the scale of the problem.
The FCA has so far issued warnings on over 9,500 firms, many of them based overseas but targeting UK investors via the internet and social media.
Some of the firms are involved, or claim to be involved, in investments. There are also significant numbers involved in cryptocurrency and foreign exchange.
Below is a list of some of the firms named this month by the FCA as firms to be avoided or treated with extreme caution by UK investors.
Consumers are advised to check firms on the FCA Register.
FCA Warnings on Firms - New or Updated / 6-8 April 2022
Name
Date Added
Date Updated
07/04/2022
08/04/2022
Likely Loans (Clone of FCA Authorised Firm) (new)
08/04/2022
08/04/2022
25/03/2022
08/04/2022
Blockchain Ltd / Blockchain Refund Department (clone of FCA registered EMD agent) (updated)
20/11/2020
08/04/2022
18/01/2022
08/04/2022
Powell Advance Associates (new)
07/04/2022
07/04/2022
01/03/2022
07/04/2022
Concorde and Associates LLC (updated)
30/03/2022
07/04/2022
Brees Capital Group LLC (updated)
28/03/2022
07/04/2022
06/04/2022
07/04/2022
06/04/2022
07/04/2022
07/04/2022
07/04/2022
BITRUN CRYPTO MINING (updated)
06/04/2022
07/04/2022
Westwood Global Management LLC (new)
07/04/2022
07/04/2022
06/04/2022
06/04/2022
T and C Broking Services (Clone of FCA authorised firm) (new)
06/04/2022
06/04/2022
www.luxnordicwm.com (clone of FCA authorised firm) (new)
06/04/2022
06/04/2022
Meteor Trade Investment Management Ltd (clone of FCA authorised firm) (updated)
20/10/2021
06/04/2022
DPI Financial Services (Clone of Authorised Representative) (new)
06/04/2022
06/04/2022
29/03/2022
06/04/2022
05/04/2022
06/04/2022
Societe Generale/ societegenerale.de.com (Clone of EEA Authorised firm details) (new)
06/04/2022
06/04/2022
05/04/2022
06/04/2022
Keller Investments (clone of FCA Authorised firm) (new)
06/04/2022
06/04/2022
Source: FCA
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