The UK’s Financial Conduct Authority (FCA) has brought to light the latest scam facing market participants, this time warning about Morgan Stanley/Morgan Stanley & Co Ltd, a clone of an FCA registered firm, in a recent FCA announcement.
What’s Holding Back Blockchain Adoption? The Answer is Simple - ConnectivityGo to article >>
Morgan Stanley & Co Ltd is an FCA registered financial services provider (Ref: 165934), which is based out of London. By extension, the group’s clone, Morgan Stanley/Morgan Stanley & Co Ltd, has illegally replicated the former’s address (25 Cabot Square, Canary Wharf, London E14 4QA) and details in an attempt to scam people in the UK. For its part, Morgan Stanley maintains no such relation or affiliation with the clone group.
FCA Warns Against Interaction with Clone
The FCA has warned investors and market participants against engaging with Morgan Stanley/Morgan Stanley & Co Ltd. While Morgan Stanley & Co Ltd is officially registered and regulated by the FCA, the clone maintains no such background or distinction, with its investment services not being under the mantle of any judicial body.
This is hardly the first instance of a clone attempting to scam individuals through the deployment of illicit means and convoluted details. The authorized firm, Morgan Stanley & Co Ltd, does not take client money or offer investment advice or service – all attempts to suggest otherwise should be deemed a scam.