The Financial Conduct Authority (FCA), the United Kingdom’s financial regulatory body, today issued another warning against a fraudulent entity, unveiling yet another firm that has been soliciting its services without a licence.
Capital Value Brokers
This time, the firm under the spotlight is Value Capital Brokers which is located at Lloyds Building, Gallery 4, 12 Leadenhall Street, London, UK and has, according to an FCA statement, been providing financial services in the UK without its authorisation. The FCA has provided website details for the investment firm but a glance at www.valuecapitalbrokers.com reveals that the site is currently unobtainable.
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The FCA continues to monitor the activities of financial services firms and the latest warning is part of the UK watchdog’s remit of steering investors away from potential scams. A similar warning was recently published against ECN Markets and CMS Trader, two forex brands illegally providing financial services and products without the required regulatory status, as reported by Finance Magnates.
Moreover, the FCA also flags up other forms of unlawful activities that are brought to its attention, such as clone firms that pretend to be other companies. This was recently the case with Gain Capital Ltd that fooled investors into thinking it was the genuine Gain Capital UK, an established FCA-regulated firm.
Most firms and individuals offering, promoting or selling financial services or products in the UK are required to be authorised by the FCA. In conjunction with today’s warning, the FCA has further advised investors to only deal with licensed financial firms which can be checked against the Financial Services Register.