The Financial Conduct Authority (FCA) has added Sterlingpointbrokerage.com to its warning list, stating that the firm is not authorised by the regulator and may be targeting people in the UK.
In its notice, the FCA said the firm may be providing or promoting financial services or products without its permission, and advised consumers to avoid dealing with the firm and to beware of scams. The regulator noted that almost all firms and individuals must be authorised or registered by the FCA to carry out or promote financial services in the UK.
The notice lists the website www.sterlingpointbrokerage.com, a contact email, and an address at 1 Canada Square, Canary Wharf, London, E14 5AB. The FCA did not describe the firm as a clone of an authorised business.
The regulator cautioned that firms on its warning list may give incorrect contact details, including postal addresses, telephone numbers and email addresses, and may change those details over time. It added that such firms may also use details belonging to another business or individual so the information appears genuine.
What the warning means for consumers
Consumers who deal with the firm will not have access to the Financial Ombudsman Service if they want to complain, and will not be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. The FCA said this means it is unlikely money would be returned if the firm goes out of business.
The regulator said anyone who sent money to a fraudster on or after 7 October 2024 may be covered by protections introduced by the Payment Systems Regulator (PSR).
The FCA advised consumers to deal only with authorised financial firms and to use the FCA Firm Checker to confirm that a firm is authorised and holds permission for the services being offered. Anyone contacted unexpectedly by a financial business should reply using the contact details listed on the Firm Checker.
People who believe they have been approached by an unauthorised firm can contact the FCA on 0800 111 6768 or through its online contact form.
