UK watchdog puts Financial.org on investor alert list
Published May 17, 2018 10:16AM ET
UK watchdog puts Financial.org on investor alert list
LONDON (Reuters) - Britain's financial markets watchdog said on Thursday it had put UK-registered firm Financial.org on an investor alert list, warning investors from dealings with the company.
The Financial Conduct Authority said in a notice on its website that it believed the firm "has been providing financial services or products in the UK without our authorization".
Reuters has reported that Financial.org, a sponsor of Formula One team Williams (DE:WGF1G), is managing hundreds of thousands of dollars for Middle Eastern and Asian investors even though it is not licensed to engage in financial transactions.
Offering investment services without regulatory permission is a criminal offense in Britain.
Financial.org could not be reached for comment.
Williams did not immediately respond to request for comment.
The FCA's action follows similar warnings from regulators around the world, including in recent weeks from the United Arab Emirates, the Philippines, Indonesia and Thailand.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.