The Financial Conduct Authority (“FCA”) would like to alert ESMA that:
- Ferrier Group
- 200 East Randolph Street
- Chicago IL 60601
- United States
is not authorised under the Financial Services and Markets Act 2000 (“FSMA”) to carry on a regulated activity in the United Kingdom. Regulated activities include, amongst other things, advising on investments and dealing and arranging deals in investments ("investments" include stocks and shares). The FCA believes that this organisation may be targeting UK customers.
The Central Bank of Ireland (‘Central Bank’) today (08 March 2016) published the name of an unauthorised firm, Ferrier Group (USA). Ferrier Group (USA) is not authorised by the Central Bank as an investment firm, investment business firm or to provide investment advice.
A list of unauthorised firms published to date is available on the Central Bank website.
It is a criminal offence for an unauthorised firm/person to provide financial services in Ireland that would require an authorisation under the relevant legislation which the Central Bank is the responsible body for enforcing. Consumers should be aware that, if they deal with a firm/person who is not authorised, they are not eligible for compensation from the Investor Compensation Scheme.
Any person wishing to contact the Central Bank of Ireland with information regarding such firms/persons may telephone (01) 224 4000. This line is also available to the public to check if a firm is authorised. Since obtaining the necessary legal powers in August 1998, the names of 266 unauthorised firms have been published by the Central Bank.
March 8th, 2016