Regulation  

Société Générale clone among sextet of FCA warnings

Livepool-based fraudsters are using the name of Société Générale to convince investors they are a Financial Conduct Authority authorised firm, the regulator has warned.

The Financial Conduct Authority said website www.sgcbuk.com is misusing the name of FCA and EEA-authorisied firm Société Générale, but the two have no association whatsoever.

The clone website appears to be no longer working.

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Other unauthorised firms targeting people in the UK and warned against by the FCA include:

• New-York-based Pan American Global Partners;

• Gibratar-based Protec Advisers;

• Gibraltar-based Protec Gold Advisers;

• Swiss Investor Club AG, whose website also appears to be no longer operating; and

• Washington-based Hobart Roth.

Investors who do business with unauthorised firms will not have recourse to the Financial Ombudsman Service or Financial Services Compensation Scheme.