FCA Warns Against Unauthorized Giant Global and Morgan Consultancy Clone
- Morgan Stanley clone and unregulated FX broker lead to a new FCA warning.
The UK Financial Conduct Authority issued a warning on Friday against two entities - a Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokerage firm has been falsely claiming registration, and a clone that has been posing as being affiliated with banking giant Morgan Stanley.
Morgan Stanley & Co Ltd is an FCA-registered financial services provider, which is based in London. The group’s clone, Morgan Consultancy Group, is attempting to mislead investors into thinking that it is offering a legal product by using similar details. The genuine Morgan Stanley has no relationship or affiliation with the clone.
Discover credible partners and premium clients in China's leading event!
[gptAdvertisement]
The UK watchdog has also blacklisted a forex broker named Giant Global, operating through www.giantglobalfx.com, which claims that it is offering a legal product. It claims to be governed by the FCA and the National Futures Association (NFA), the self-regulatory body of the United States.
Finance Magnates found that the associate website for the fraudulent firm has been suspended. The exact details of this company’s operations are therefore unavailable; however, it is clear from a few cached pages of its website that its operators were attempting to deceive investors into believing that it was a multi-regulated provider.
Today’s announcement is the latest in the a series of warnings from the FCA about clones and unregulated firms posing as legitimate approved businesses in order to con UK consumers into making Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term for investment services.
The FCA reminded UK investors that clones employ the tactic of adopting a legitimate company’s name when they cold call potential victims. It urges them to be wary if they get contacted by anyone claiming to work for such companies.
The UK Financial Conduct Authority issued a warning on Friday against two entities - a Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokerage firm has been falsely claiming registration, and a clone that has been posing as being affiliated with banking giant Morgan Stanley.
Morgan Stanley & Co Ltd is an FCA-registered financial services provider, which is based in London. The group’s clone, Morgan Consultancy Group, is attempting to mislead investors into thinking that it is offering a legal product by using similar details. The genuine Morgan Stanley has no relationship or affiliation with the clone.
Discover credible partners and premium clients in China's leading event!
[gptAdvertisement]
The UK watchdog has also blacklisted a forex broker named Giant Global, operating through www.giantglobalfx.com, which claims that it is offering a legal product. It claims to be governed by the FCA and the National Futures Association (NFA), the self-regulatory body of the United States.
Finance Magnates found that the associate website for the fraudulent firm has been suspended. The exact details of this company’s operations are therefore unavailable; however, it is clear from a few cached pages of its website that its operators were attempting to deceive investors into believing that it was a multi-regulated provider.
Today’s announcement is the latest in the a series of warnings from the FCA about clones and unregulated firms posing as legitimate approved businesses in order to con UK consumers into making Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term for investment services.
The FCA reminded UK investors that clones employ the tactic of adopting a legitimate company’s name when they cold call potential victims. It urges them to be wary if they get contacted by anyone claiming to work for such companies.