FCA issues 14 warnings about unauthorised and clone firms in one week

Fourteen warnings in a single week — that’s how many the Financial Conduct Authority posted about firms it believes may be operating without permission or impersonating legitimate businesses. The FCA’s Warning List, which names firms and individuals suspected of targeting UK consumers without authorisation, included seven specifically identified entries published between 26 October 2026 and 30 October 2026, among them Northern Index, LW Management, Assets Explore, Bondsterling Savings Ltd, BITRUMARKET, Client.octopus-firm.com, and PCPHero / motorrefunds.co.uk.

Clone firms are a particular concern — they copy the name, registration number and contact details of a genuine FCA-authorised firm to appear legitimate. The FCA says unauthorised firms may offer bonds, shares, foreign exchange and cryptocurrency, and warns consumers to cross-check any firm’s name, authorisation status, permitted services and contact details against the official FCA Firm Checker before transferring money.

The financial stakes are real. Consumers dealing with an unauthorised firm generally can’t access the Financial Ombudsman Service if something goes wrong, and money held with such a firm is typically not protected by the Financial Services Compensation Scheme. That means no compensation route and no safety net.

Almost all firms and individuals providing or promoting financial services in the UK are required by law to be authorised or registered with the FCA.

Anyone who believes they’ve been approached by a suspected unauthorised or clone firm can report it to the FCA directly.

Key information

• Check any firm using the FCA Firm Checker before sending money — verify the name, authorisation status, permitted services and contact details match the official register
• Report suspected fraud to the FCA on 0800 111 6768
• View the full Warning List at the FCA’s official website to see all recent entries