Beware of unauthorised providers of financial services 

The financial regulatory authorities of UK (Financial Conduct Authority – FCA) and Honk Kong (Securities and Futures Commission – SFC) have issued warnings to inform investors and public about unauthorized providers of financial services.

According FCA’s warning, the Authority believes that the below firm has been providing financial services or products in the UK without FCA’s authorisation.

Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by FCA.

However, some firms act without FCA’s authorisation and some knowingly run investment scams.

FCA released the below details for an unauthorised financial services provider in UK:

BBS Consulting / Best Broker Service

Address: 32 London Bridge Street, London, SE1 9SG

Telephone: 0203 519 1978

Fax: 0203 725 7788

Email: service@bbsconsulting.co.uk

Website: www.bbsconsulting.co.uk

FCA strongly advise investors and public to only deal in UK with financial firms that are authorised by the Authority.

On May 4, the Securities and Futures Commission (SFC) of Hong Kong has issued also a warning about Europe Trade Limited / Europe Trade FX.

According SFC, the company uses a Hong Kong bank account in the name of Europe Trade Limited for settlement. It is apparently associated with ENOI Europe Limited, an unlicensed entity on SFC’s Alert List.

SFC added the firm on its Alert List and released the below details of the company:

Europe Trade Limited / Europe Trade FX

Type: Unlicensed entities

Address(es): Trust Company Complex, Majuro, MH96960, Marshall Islands

Website: www.europetradefx.com

Remarks: The company uses a Hong Kong bank account in the name of Europe Trade Limited for settlement. It is apparently associated with ENOI Europe Limited, an unlicensed entity on our Alert List.

Add date: 4 May 2017

SFC warns that unlicensed entities often use names similar to legitimate companies to confuse investors.

Source: FCA / SFC

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