Important notice on unsolicited phone calls and investment advice
Recently, many listed companies and investment firms have become aware that their clients and investors have received unsolicited phone calls or correspondence concerning investment matters. These are typically from overseas ‘brokers’ (some of which have similar names to UK regulated firms) who target individuals offering to sell them what often turn out to be worthless or high risk shares generally in US or UK investments. They can be very persistent and extremely persuasive. A 2006 survey by the UK Financial Services Authority (FSA) reported that the average amount lost by investors is around £20,000. It is not just the novice investor that has been duped in this way; many of the victims have been successfully investing for several years. We advise our clients and investors to be very wary of any unsolicited advice, offers to buy shares at a discount or offers of free company reports.
If you are in any doubt as to the authenticity or genuineness of any communications from Merchant Securities Group Limited or Merchant Securities PLC, then please telephone +44(0)207 375 9010 and ask to speak to a member of our compliance team. Alternatively, please email: enquiries@merchantsecurities.co.uk
You can also check whether an investment firm is properly authorised in the UK by the FSA at www.fsa.gov.uk/register
The FSA also maintains on its website a list of unauthorised overseas firms who are targeting, or have targeted UK investors and any approach from such organisations should be reported to the FSA so that this list can be kept up to date and any other appropriate action can be considered. If you deal with an unauthorised firm, you would not be eligible to receive payment under the Financial Services Compensation Scheme. The FSA can be contacted by completing an online form at:
www.fsa.gov.uk/pages/doing/regulated/law/alerts/overseas.shtml
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