Handy andy Posted August 10, 2017 Posted August 10, 2017 Warning, An advertisement I noticed ref government backed secure bonds on this forum drew my suspicions, so I made enquiries with the FCA. FYI the following is the response:- -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Thank you for your web form to the Financial Conduct Authority (FCA). I understand that that you have concerns about the firm url removed as to if they’re legitimate. Hopefully I can help.SecurebondsI've searched our financial services register for url removed and I can confirm that this firm is not regulated by us. I’ve also searched further after reviewing the website and searched under ‘Bovarius Ltd’, the companies’ house number that they’ve provided and the postcode. I couldn’t find any further data on that information. Whilst 9 results were provided under the postcode I couldn’t match any information to this firm. url removedI’ve reviewed the Terms and Conditions and can see that the firm mention that they only offer their services to sophisticated and/or high net worth individual investors who are professional clients. Within out FCA handbook (COBS 4.12.6) provides a definition of sophisticated or high net worth investors. You can read the full criteria on the above link. It may be that what the firm are offering meets the criteria which are why they may not need to be regulated. Further GuidanceI must stress that if you carry out an activity with a firm that isn’t authorised by us you wouldn’t have access to redress with the Financial Ombudsman Service or the Financial Services Compensation Scheme. Having said that it you carried out regulated activity with a regulated firm as a sophisticated or high net worth individual you still may not have this access as you’d be signing documents to confirm that you’re a sophisticated or high net worth individual, you can read more about the rules in COBS 3.5.3. To have access to the Financial Ombudsman Service you’d need to meet the eligibility criteria, the criteria of this is within DISP 2.7.3.If you need any financial advice you may wish to speak to a financial adviser to talk through your options. What I’ve done with this information Please take this email as confirm that I’ve passed your concerns onto our Unauthorised Business Department for them to look into this company further, they will review if this company is doing something that should be regulated and take forward as they deem appropriate. I won’t be able to let you know what we do with the information, or provide feedback as this information is confidential. I hope the information provided has been helpful, should you have any further questions please respond to my email. To help us improve our service, I’m interested in finding out about your experience with the Contact Centre today. I’ll send you a link to a survey and I’d appreciate it if you could take a few moments to share your feedback on the service you’ve received from me. Yours sincerely, Kelly Smart ------------------------------------------------------------------------------------------ Anyone considering this companies claims might want to exercise some caution.
swansont Posted August 10, 2017 Posted August 10, 2017 49 minutes ago, Handy andy said: Warning, An advertisement I noticed ref government backed secure bonds on this forum drew my suspicions, so I made enquiries with the FCA. FYI the following is the response:- And yet you felt compelled to provide links to this dodgy site (which shall be removed), and post this (in the lounge, yet), rather than reporting it? The mind boggles.
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