Wednesday, 24 August 2022 08:32
FCA issues warnings over 2 unauthorised advice firms
The Financial Conduct Authority (FCA) has issued warnings over two firms offering financial advice without its authorisation.
Chartwell Advisors LLC and Trading Space UK Ltd are both providing financial advice without authorisation, according to the regulator.
Chartwell Advisors LLC is a US financial advice firm based in New York. The FCA said that it believes the firm may be providing financial advice in the UK without its authorisation.
The firm is based on 55th Street in New York and is using US phone numbers to contact UK investors.
It is using two websites: http://www.chartwelladvllc.com/ and http://www.chartwelladvll.com/ .
The firm is not affiliated with Chartwell Advisors (NY) LLC or Chartwell Advisors Inc.
Trading Space UK Ltd is offering “smart investing with a financial advisor” targeting UK investors to sell high-risk Forex and CFD investments.
The FCA said that the firm is not registered with the regulator and that UK investors using their services are not protected by the Financial Ombudsman Service or the Financial Services Compensation Scheme.
According to Trading Space’s website the firm was founded in Geneva (Switzerland) in 2010 and has been operating in the UK since 2011. It has a UK office at One Canada Square, Canary Wharf.
Trading Space is using the website https://tradingspace.pro/ and email address This email address is being protected from spambots. You need JavaScript enabled to view it. .
In its consumer warnings issued earlier this week, the FCA encouraged consumers to report firms that claim to be on the FCA’s Register but does not to contact its consumer helpline.
Scam enquiries to the FCA surged by a third between April and September 2021.
The FCA received 16,400 scam enquiries during the period, according to data from its annual report.
This was an increase of a third on the same period in 2020.
Over 1,836 consumer alerts were published during the period.
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