The Financial Conduct Authority (FCA) has issued a warning regarding meridian-trades.com, stating that the firm may be providing or promoting financial services or products in the UK without the necessary FCA permission. The regulator is cautioning consumers to avoid dealings with this firm and to remain alert to potential scams.
According to the FCA, meridian-trades.com is not authorised by the regulator and may be targeting people in the UK. Almost all firms and individuals must be authorised or registered by the FCA to carry out or promote financial services in the UK, and the watchdog is urging consumers to engage only with firms that hold FCA authorisation.
Details of the unauthorised firm
The FCA lists the following details for the unauthorised firm:
- Name: meridian-trades.com
- Address: 420 Boylston St, Suite 302, Boston, MA, UNITED STATES OF AMERICA, 02116
- Telephone: +14252096222
- Email: [email protected]
- Website: www.meridian-trades.com
The regulator's warning indicates that this firm does not have FCA authorisation to provide or promote financial services or products in the UK.
Consumer protection implications
The FCA highlights that consumers who choose to deal with meridian-trades.com will not have access to the Financial Ombudsman Service if they wish to make a complaint. In addition, they will not be protected by the Financial Services Compensation Scheme (FSCS) if something goes wrong.
Without these protections, it is unlikely that consumers would be able to recover their money if the firm were to go out of business. The FCA therefore advises consumers to exercise caution and to verify that any financial services provider they engage with is authorised by the FCA.
The warning forms part of the FCA's broader efforts to protect consumers from unauthorised firms and potential scams in the financial services sector. The regulator reiterates that dealing only with authorised firms is a key safeguard for UK consumers.
