FCA warns of “bogus entity” operating in the UK without authorisation

The Financial Conduct Authority (FCA) has sent out a warning to insurers and customers about a company which is targeting people in the UK but has no FCA authorisation.

The authority has described Bulwark Insurance as a “bogus entity“ and that it does not have authorisation, but is carrying out regulated activities that requires it.

According to the FCA, “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.”

Protect yourself

The authority then went on to advise on how to protect yourself from the threat of dealing with an unauthorised firm.

It says you should “only deal with financial firms that are authorised by the FCA,” and check the Financial Services Register to ensure they are.