| Re: Swiss Equity Trust AG |
Thu, 02 December 2010 05:21  |
AnnabelleR
Messages: 3
Registered: November 2010
Location: Usa
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Junior Member |
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The Financial Services and Markets Act 2000 (FSMA) sets out one of the FSA’s regulatory objectives as protecting consumers.
This warning list includes unauthorised overseas firms that the FSA has received complaints about in respect of their activities and/or the FSA has reason to believe they are involved, or have been involved in, activities that contravene section 19 and/or 21 of FSMA.
Such firms are often involved in ‘boiler room’ activities and pose a high degree of risk to consumers. They frequently engage in tactics including cold-calling members of the public offering shares that later turn out to be worthless or high risk. The callers can be very persistent and extremely persuasive. If you are cold-called by an unauthorised overseas firm in relation to stocks or shares, you should be extremely careful. If you are contacted in such a manner, the FSA advises that you simply terminate the telephone call – the most effective protection against such unauthorised firms is to have nothing to do with them.
The list of unauthorised firms is by no means exhaustive as new names are regularly added. The absence of a firm’s name does not necessarily mean they can be safely dealt with. Consumers need to be aware of the dangers that are posed by such unauthorised entities.
Further guidance and information on the dangers posed by such firms can be found on Moneymadeclear.
Ingrown hair
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