The UK financial regulator has issued a warning regarding ENTREPRENEUR PRICEMARKET ONLINE TRADING INVEST PLATFORM, stating that the firm may be providing or promoting financial services or products without permission. The firm is not authorised and may be targeting individuals in the UK, prompting caution from the regulator.
According to the notice, almost all firms and individuals must be authorised or registered to carry out or promote financial services in the UK. ENTREPRENEUR PRICEMARKET ONLINE TRADING INVEST PLATFORM does not hold such authorisation. The firm lists its address as 66 Broadway, Wimbledon, London, UNITED KINGDOM, and provides the email address [email protected] and website www.entrepreneurpricesmarket.com.
The regulator warns that some firms may provide incorrect or changing contact details, including postal addresses, telephone numbers and email addresses. They may also use contact details belonging to another business or individual to appear genuine. As a result, consumers are advised not to rely solely on the information provided by the firm itself.
Consumer protections and potential risks
The notice highlights that anyone dealing with this unauthorised firm will not have access to the Financial Ombudsman Service if they wish to lodge a complaint. In addition, they will not be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. This means it is unlikely that customers would recover their money if the firm ceased trading or went out of business.
The notice further states that if money was sent to a fraudster on or after 7 October 2024, individuals may be covered by protections introduced by the Payment Systems Regulator (PSR). No additional details on these protections are provided in the notice.
Guidance on how to protect yourself
The regulator advises that consumers should only deal with financial firms that are authorised. Authorised status provides greater protection if problems arise. To verify whether a firm is authorised and has permission to offer specific services, individuals are directed to use the FCA Firm Checker.
The notice also recommends that if a person is contacted unexpectedly by a financial business, they should respond only using the contact details listed on the Firm Checker, rather than those supplied in an unsolicited approach. This is intended to reduce the risk of engaging with unauthorised firms or potential scams such as those associated with ENTREPRENEUR PRICEMARKET ONLINE TRADING INVEST PLATFORM.
