The UK financial markets regulator, the Financial Conduct Authority (“FCA”) has issued a public warning against the unauthorized activities of Simon Gray & Associates and another consulting firm called Wade and Wiley Consultancy.
The UK Regulatory Watchdog further alerts that Simon Gray & Associates is not authorized under the Financial Services and Markets Act 200 (FSMA) to perform regulated financial services activities in The UK, The official warning further continues that there are a number of unauthorized “enterprises” illegally targeting the UK residents with too good to be true scams, such as share frauds.
Share Frauds are basically Boiler Room like scams where so called brokers target individuals offering them returns on specific shares of different companies which quite often do not even exist. Once the individual investors invest their money quite often via bank wire or credit card these individual “brokers” permanently disappear. One of these special cases just happened a couple of months ago with the company called SecureInvestment.com where the company offered 1% daily return to its investors and collected millions of dollars before disappearing permanently.
The FCA furthermore added Carrington Group LLC to the list of unauthorized firms and individuals list. This list can be accessed on the FCA website.
Simon Gray & Associates
Address: 86 Water Street, New York, United States, 10005
Tel: +1 646 5689721, 07778896116
Fax: +1 646 7863339
Wade and Wiley Consultancy
Address: 205, E 16th Street, New York, New York, 1003 USA
Tel: +1 7778895381
AtoZFOREX Team recommends doing business only with the regulated financial institutions
AtoZForex.com strongly advise traders to only do business with those of financial institutions that are authorized by major Industry Regulators. Every individual should check with the industry leading regulators such as FCA, ASIC and NFA to ensure that these firms and individuals are, or have been, regulated by the claimed regulatory bodies. If a firm claims to be regulated but does not appear on the regulator registers we recommend informing the regulator directly.