The FCA on Thursday warned the British public of an investment firm named Investing in Bonds. The regulator says that the entity do not have the authorization to operate within the country.
June 11 2020 | AtoZ Markets – UK’s Financial Conduct Authority (FCA) today issued an investor alert warning residents of the province to exercise “extreme caution” when considering whether to invest with a brand called ‘Investing in Bonds.’
Most warnings of this type involve unauthorized advertising to or contact with retail investors in Canada by unlicensed brokers, and this one is no different.
FCA warns of Investing in Bonds, advises public on avoiding unauthorized firms
The FCA believes that Investing in Bonds, a firm based in the UK, has been providing financial services or products in the UK without authorization.
It encourages the public to find out why to be especially wary of dealing with this unauthorized firm. FCA also advises on how to protect yourself from scammers.
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us, the FCA says.
It warns that some firms still act without the FCA’s authorization and some knowingly run investment scams. The FCA also notes and publishes details on Investing in Bonds:
Address: 70 Wilson Street London EC2A 2DB UK
Protection from scams and unauthorized firms
The FCA strongly advises the public to only deal with financial firms that are authorized by them and to check the Financial Services Register to ensure they are.
The register also has information on firms and individuals that are, or have been, regulated by the FCA.
However, more steps should be taken to avoid scams and unauthorized firms.
“If you use an unauthorised firm, you won’t have access to the Financial Ombudsman Service(link is external) or Financial Services Compensation Scheme(link is external) (FSCS) so you’re unlikely to get your money back if things go wrong,” the FCA explains.
It adds that if you use an authorized firm, access to the Financial Ombudsman Service and FSCS protection will depend on the investment you are making and the service the firm is providing.`
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