Britain’s Financial Watchdog Today Flags Latest Unauthorized Brokers

According to the watchdog, many of these entities are acting in a ‎capacity requiring them to be registered with the

Te Financial Conduct Authority (FCA), the UK’s financial regulator, today announced that it believes an unauthorized company by the name ‘TVT Investment Management’ to be providing financial services or products to UK residents without regulatory permission.

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

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The FCA said that TVT Investment Management may be a scam and because it is operating without a license.

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The watchdog pointed out that the company is based in Hampshire, with a presence in other jurisdictions. It solicits people using the website www.tvt-partners.com.

The FCA has waged war on unregistered online trading firms and clone companies, and the number of brokers on its blacklist continues to grow. Last month, the British regulator issued a warning against two entities – a forex brokerage firm has been falsely claiming registration, and a clone that has been posing as being affiliated with banking giant Morgan Stanley.

Besides clarifying that the firm in question lacks the proper authorisation to be targeting British customers, the FCA also said in its official statement that it strongly advises investors to only deal with financial firms that are authorised. People can check the Financial Services Register to ensure that they are.

According to the watchdog, many of these entities are acting in a ‎capacity requiring them to be registered with the FCA. Registration allows ‎the agency to provide greater security and oversight of the industry by ‎examining whether firms meet minimum financial standards as well as ‎disclosure, reporting, and record keeping requirements.‎

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