FCA warning to shareholders

Over the past few years we have been aware, as have many listed companies, that some of our shareholders have received unsolicited phone calls or correspondence concerning investment matters. Share fraud includes scams where investors are called out of the blue and offered shares that often turn out to be worthless or non-existent, or an inflated price for shares they own. These calls come from fraudsters operating in 'boiler rooms' that are mostly based abroad.  

Shareholders are advised to be wary of such approaches and while high profits are promised, those who buy or sell shares in this way usually lose their money. The Financial Conduct Authority (FCA) has found most share fraud victims are experienced investors who lose an average of 20,000, with around 200m lost in the UK each year.  

If you receive an unsolicited approach then you should speak to your investment adviser (if you have one) and consult the information for consumers on the Financial Conduct Website at,
http://www.fca.org.uk/consumers/scams where you can find out about the latest investment scams and also provides guidance on appropriate steps to take to establish whether an approach is legitimate, and contact details for reporting any concerns or suspicions.

You can also call the FCA Consumer Helpline  
0800 111 6768  


Remember: if it sounds too good to be true, it probably is!











 

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