In the UK, nearly all financial service activities must be authorised or registered by the Financial Conduct Authority.
If a company is offering investments, managing money or giving investment advice, check it on the FCA register before doing anything.
Be cautious if a caller says they are “following FCA guidelines” but will not say they are regulated by the FCA. Those are not the same thing.
If a firm is not authorised, you may not be covered by the Financial Ombudsman Service if something goes wrong.
You may also not be protected by the Financial Services Compensation Scheme if the firm goes out of business.
You can also search the FCA Warning List to check whether a firm or individual is known to be unauthorised.
If a company is not on the Warning List, it does not mean it is safe or authorised.
Always check the FCA register as well.
