The FCA has warned investors to be wary of a firm which promises guaranteed income of up to 10% per year.

The company, called SafeInvest, claims investors will get a “guaranteed” 6%, 8% or 10% on investment in fixed income secured bonds via its website www.safe-invest.co.uk.

The firm promotes the investments as being “FSCS qualified” and suitable for SIPP or SSAS investment.

It says the investment is “100% fully insured by Lloyds of London.”

But the FCA says the firm is providing financial services or products in the UK without authorisation.

The FCA warning added: “Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.

“However, some firms act without our authorisation and some knowingly run investment scams. 

“This firm is not authorised by us and is targeting people in the UK.

“Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”