A number of companies have become aware in recent years that their shareholders have received unsolicited phone calls or correspondence, often from overseas firms, concerning investment matters. Typically, these are from overseas based "brokers" who target UK shareholders with a proposed offer for their shares or with an offer to sell them what often turn out to be worthless or high risk shares in US or UK companies. Requests have also been made to shareholders for personal information and shareholding proof in order to proceed. It is not only novice investors that have been duped in this way. Many victims have been investing for years.
So, if you receive any unsolicited investment advice, it is suggested that you:
If you deal with an unauthorised firm, you will not eligible to receive payment under the Financial Services Compensation Scheme should you suffer any subsequent loss. Contact details for the FCA can be found on the FCA website at www.fca.org.uk/consumers. More detailed information on share scams can be found on the FCA website at www.fca.org.uk/consumers/scams.
The FCA's consumer helpline number is:
UK: 0800 111 6768 (freephone), 0300 500 8082
From abroad: +44 20 7066 1000
The FCA's consumer helpline email address is: email@example.com