The Financial Conduct Authority has urged consumers to verify firms before investing, after posting 15 warnings about unauthorised or clone businesses in a single week.
Fifteen warnings in seven days — that’s the figure the FCA posted this week, flagging unauthorised or clone firms that may be targeting consumers in the UK. The regulator’s Warning List records businesses suspected of operating without the required authorisation, which is unlawful under UK financial services rules.
Among the firms named in recent Warning List entries are Northern Index, described by the FCA as a clone of an authorised fund, and Client.octopus-firm.com, similarly flagged as a clone of an authorised firm. Shard Credit Partners and Assets Explore also appeared in warnings dated 27 to 30 October 2026. The full identities of all 15 firms were not independently confirmed from available official results.
Clone firms are a particular problem because they mimic legitimate businesses — copying names, addresses, websites and branding to appear credible. The FCA warns consumers not to assume a firm is genuine simply because it uses the details of a real, authorised company.
The stakes are real. People who deal with an unauthorised firm are unlikely to be covered by the Financial Ombudsman Service and may have little prospect of recovering any money lost.
Two Kent-based entries appear separately on the FCA Warning List: Miller and Osbourne Ltd, listed at 117 Dartford Road, Dartford, DA1 3EN, and Bank of Gilmore at Pendragon Road, Bromley, BR1 5JY. The FCA states both may have been providing financial services in the UK without authorisation. Neither has been confirmed as among the 15 warnings referenced in this week’s post.
The FCA advises checking any firm on its Firm Checker tool and confirming that contact details match those held on the Financial Services Register before handing over money or personal information. Suspected unauthorised or clone-firm activity can be reported directly to the regulator.
Key information
- Check before you invest: Use the FCA Firm Checker and Financial Services Register to verify any firm’s authorisation status
- Warning List: The FCA’s Warning List shows firms suspected of operating without permission — search it before using any financial service
- Report fraud: Suspected unauthorised firms and clone-firm activity can be reported to the FCA directly via its website
Source: @TheFCA
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