Consumers in the UK have been alerted about a clone of a London-based wealth manager by the Financial Conduct Authority (FCA).
The FCA said the organisation, which 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.
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The fake firm is using a similar name to an FCA authorised firm Blackbird Europe Limited which uses a different website (www.clear-markets.com).
The FCA said the clone "has no association whatsoever with the company described above".
Investors that deal with an unauthorised company have no recourse to the Financial Ombudsman Service or the Financial Compensation Scheme.
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By GlobalData
