The Financial Conduct Authority (FCA), the British regulatory body and consumer protection watchdog, has issued a warning to investors in the country against working with a binary options firm calling itself “RBS Bourse”. The website of the firm claims that it is based in London but the main language is French and it seems to mainly target clients from France.
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized by the FCA. However, the watchdog says it believes that RBS Bourse has been providing financial services or products in the UK without its authorization. It calls on the public to be especially wary of dealing with this unauthorized entity and to learn how to get protected from scammers.
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The FCA mentions that the firm has no affiliation or connection to RBS Asset Management but do not go as far as calling it a clone scam as it often does for websites sharing names with established financial brands. Furthermore, the regulator might have missed that in the About Us section of its website RBS Bourse brazenly displays the FCA’s own logo and even links to its register as if clients can find its license there. Meanwhile, an actual search on the FCA Register only returns the warning that the firm is unauthorized.