The dubious practice of cloning has been a major focus of Britain’s Financial Conduct Authority (FCA) of late, with the regulator making periodical announcements on its publicly available website, in order to alert potential investors that there are companies which are neither regulated by the FCA nor based in the UK, which use names and websites similar to long established, bona fide companies as a confidence trick.
Today, the FCA has warned of yet another example of this means of attempting to dupe investors, this time stating that potential investors should exercise caution with regard to an impostor which is attempting to emulate FCA regulated firm Kinglsey Asset Management.
The FCA’s findings state that the clone firm, which uses the same name as the actual regulated company, claims to be operating from Hyde House, The Hyde, London, NW9 6LH (clone of FCA authorised firm), as well as Unit 1, 47 Doomben Avenue, Eastwood, NSW 2122, Sydney, Australia, and uses the website www.kam6fx.com and has an email contact address of [email protected]
In pointing out the details of the actual FCA regulated firm, the British regulatory authority has confirmed that the FCA authorized firm that fraudsters are claiming to work for has no association with the ‘clone firm’.
The fully regulated company which is authorized to offer, promote or sell services or product in the UK and its correct details are:
Name: Kingsley Asset Management (Global) LLP
Firm reference number: 551092 Address: Hyde House, The Hyde, London, NW9 6LH 79 Maygrove Road, London, NW6 2EG
Tel: 0207 644 2280
Fax: 0207 644 2281
Email: [email protected]
Investors are advised, therefore, to conduct business only with this particular firm, and to ensure that they do not fall foul of a potential fraud by mistaking this for the clone site.
For the full announcement from the FCA, click here.