UK regulator the Financial Conduct Authority (FCA) has warned four companies that are not authorised to conduct regulated activities.
The companies that are not authorised by the FCA are: Greenfield Securities, Eventus Consultancy JLT (trading as Eventus Alternatives, Hanover Associates Financial Services AG, and Bforex.
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The companies have not been accused of any wrongdoing by the regulator, however consumers who use them would have no recourse to the Financial Services Compensation Scheme or the Financial Ombudsman Service if they were unhappy with the outcome of their services.
Regarding Greenfield Securities, the FCA stated that it "may be targeting UK consumers".
The recent warnings follow previous alerts from the FCA about other unauthorised firms including Green and Banks Advisors, Gilbert Webb Estates, and Eco Asian Carbon Consulting.
The FCA had also said the organisation, which was identifying itself to UK citizens as BlackBird Europe Limited (www.blackbirdeurope.com), is not authorised under the Financial Services and Markets Act to carry out regulated activities in the UK but was using a similar name to an FCA authorised firm Blackbird Europe Limited, which uses a different website (www.clear-markets.com).
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By GlobalData
