The Financial Conduct Authority has issued a warning over an unauthorised ‘clone’ firm that is targeting UK consumers using a similar name to established and FCA-authorised insurance and mortgages intermediary K B P Insurance Service.
According to the warning, a firm that is not authorised by the regulator and calling itself KBP Insurance Service Ltd may be targeting consumers in relation to regulated retail investment activities.
The authorised K B P is based in Sevenoaks, Kent and has been authorised since October 2004. According to its website, the firm advises on life assurance, mortgages and a range of general insurance products such as motor, home and travel insurance.
The warning against the clone firm is one of three to have been posted on the FCA website on Friday as part of its clamp down on unauthorised firms which could appear to consumers to be regulated entities.
Alerts were issued respectively against Able Capital and Aston Forex, also known as Aston Markets. The former claims to operate from Lombard Street in London and the latter claims to be a foreign exchange trading company registered in Belize.
These three notices are the latest issued in a spate of such warnings from the new regulator as it focuses on unauthorised firms, bringing the total to 15 in the last four weeks.
