FCA UK warns Against TVT Investment management, adding that the company was red flagged for operating and targeting the UK citizens without any license in place.
29 August, AtoZ Markets – The financial regulatory body of the UK, the Financial Conduct Authority (FCA) has issued a warning on its official website. The FCA has warned the investors’ community against dealing with TVT Investment management, which is, the regulator believes, an unauthorized brokerage that operates on the UK territory.
FCA UK Warns Against TVT Investment management
The FCA has also added that TVT Investment management has been providing financial services or products to the UK residents without any valid authorization to do so. However, in fact, all the firms that intend to provide financial services to the residents of the UK have to be regulated by the watchdog.
The regulator further states that this asset manager might be a scam and adds that it was red flagged for operating and targeting the UK citizens without any license in place. According to the FCA, the company has been operating online via www.tvt-partners.com. It reportedly claimed to have an office in Hampshire, United Kingdom. Moreover, the company’s website claims that it maintains the presence in other jurisdictions as well.
The UK FCA has also clarified that the firm in question lacks the proper authorization to be targeting the UK customers. The regulator noted that it strongly advises investors to only deal with financial firms that have valid authorization. It is possible to check the Financial Services Register to ensure they are.
UK FCA Latest Warnings
The UK regulator has been quite active in its role of protecting investors from fraudulent and scam companies, as the watchdog has been issuing a number of warnings for the UK residents. While the number of unauthorized brokers in its warning list continuously grows, the FCA has also been paying close attention to the clone companies operating on its territory.
For instance, just a week ago, AtoZ Markets reported that the UK watchdog has blacklisted a clone of a European Economic Area (EEA) authorized firm and two other unregulated financial firms.
The regulator has cautioned UK investors against dealing with Generali Brokers, Generali France, and Assicurazioni Generali S.p.A. As per the statement, the above firms are acting as a clone firm of an EEA registered company.
Aside from the clone firm, the FCA has also blacklisted Radcliffe and Young Asset Management. The entity goes by the name Radcliffe and Young. The company operates online via www.radcliffeandyoung.com. It is also understood that the firm has two addresses – one in Switzerland and one in Dubai.
Additionally, the regulator has also red-flagged an entity called Quick Financial Group. The UK FCA states that the firm is targeting residents in the country without any authorization. Clients should be wary of this company. The watchdog reports that it operates online via www.aquickfinancialgroup.com/ and claims to be based at 88 Wood Street, 10th – 11th Floor, London EC2V 7RS.
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