FSA issues warning against clone firm

cloned-businessmanBritain's Financial Services Authority (FSA) has issued a warning against A Walker Associates, an unauthorised clone firm.

The firm is also known under the names Andrew Walker Associates and AW Associates. It uses the FSA registration number 414899 that belongs to Andrew Walker, an appointed representative firm of St James’s Palace Wealth Management.

Its website www.awalkerassociates.com is still online. It appears to be hosted on WordPress, which offers mostly free website-building tools for bloggers.

In a statement, the FSA said the firm had “no association whatsoever” with Andrew Walker and was not authorised under the Financial Services and Markets Act 2000 to carry on a regulated activity. This includes activities such as advising on investments, dealing and arranging deals in investments.

The FSA warned that the Financial Ombudsman Service and the 

Financial Services Compensation Scheme werenot available for investors dealing with an unauthorised company or individual.

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