How to protect yourself from unauthorised firms

clock

Here are ten top tips to avoid falling prey to fraudulent and unauthorised financial services companies...

A flurry of warnings from the new financial services regulator, the FCA, in the past week about unauthorised financial services firms is a sure-fire sign it intends to stick to its 'consumer first' promise. There are of course plenty of unauthorised firms that are running scams; recently, many have come from overseas companies targeting UK consumers. The important thing to remember is that if you deal with an unauthorised firm - whether they are running a scam or not - you will not be covered by the Financial Ombudsman Service (FOS) or Financial Services Compensation Scheme (FSCS) if ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The rarely discussed barriers to closing the advice gap

The rarely discussed barriers to closing the advice gap

'The real issue isn't just access, it's attitudes, representation, and engagement'

Harry Webster
clock 04 April 2025 • 7 min read
The Apprentice stars call for more financial advice as online businesses surge

The Apprentice stars call for more financial advice as online businesses surge

‘Crucial that young entrepreneurs receive the right guidance to manage their finances’

Sahar Nazir
clock 03 April 2025 • 2 min read
Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

20% on EU, 10% on UK

Sorin Dojan
clock 03 April 2025 • 2 min read