Unauthorised brokers (boiler room scams)
Shareholders are advised to be very wary of any unsolicited advice, offers to buy shares at a discount or offers of free company reports. These are typically from overseas based 'brokers' who target UK shareholders offering to sell them what often turn out to be worthless or high risk shares in US or UK investments. These operations are commonly known as 'boiler rooms'.
If you receive any unsolicited investment advice:
- Make sure you get the correct name of the person and organisation.
- Check that they are properly authorised by the Financial Services Register before getting involved by visiting www.fca.org.uk.
- Report the matter to the FCA either by calling their consumer helpline on 0800 111 6768 or visiting www.fca.org.uk/scams.
- If the calls persist, hang up.
If you deal with an unauthorised firm, you will not be eligible to receive payment under the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS).
Details of any share dealing facilities that the Company endorses will only be included in company mailings.
Keep in mind that it is very unlikely that an authorised firm that you have no relationship with would contact you out of the blue offering to buy or sell shares or offer other investment opportunities.