Warning to Investors - false offers for shares

A number of companies have recently become aware that their shareholders have received unsolicited phone calls or correspondence, often from overseas firms, concerning investment matters. Typically, these are from overseas based “brokers” who target UK shareholders with a proposed offer for their shares or offer to sell them what often turn out to be worthless or high risk shares in US or UK companies. Requests are also made to shareholders for personal information and shareholding proof in order to proceed. It is not only novice investors that have been duped in this way. Many victims have been investing for years.

So, if you receive any unsolicited investment advice, it is suggested that you:
• Make sure that you record the correct name of the person and their organisation;
• Check whether the firm is properly authorised by the FSA before you become involved. You can check at www.fsa.gov.uk/register;
• If you are concerned about the person’s authenticity, report the matter to the FSA by calling their consumer helpline on  +44 (0) 845 606 1234
• If calls persist, hang up.

If you deal with an unauthorised firm, you are not eligible to receive payment under the Financial Services Compensation Scheme should you suffer any subsequent loss. Contact details for the FSA can be found on the FSA website at www.fsa.gov.uk/Pages/consumerinformation/consumer_contact/index.shtml
More detailed information on share scams can be found on the FSA website at
www.moneymadeclear.fsa.gov.uk/news/scams/share_scams.html