The company, Campbell & Stewart Advisory Firm, is contacting people mainly about Mediwatch plc, but the FSA is also aware that they are also calling shareholders in a number of other companies. In this instance it is offering to pay over the odds for Mediwatch plc shares, providing the shareholder pays an upfront fee to secure the deal and the FSA are concerned it is a scam.
Jonathan Phelan, the FSA’s head of unauthorised business, said; “We have had reports that a US company called Campbell & Stewart Advisory Firm (www.campbellstewaratadvisory.com) is trying to buy the shares of people who have invested in Mediwatch plc, providing the customer pays an up-front fee first. We strongly believe this is a scam and anybody that is approached by this firm, or any other firm with a similar offer, should be very wary indeed. Calls out of the blue that promise a fantastic return on investment are one of the hallmarks of a scan.
“We have been told that Campbell & Stewart Advisory Firm is telling shareholders that they will pay over the odds for Mediwatch shares as they wish to mount a takeover bid for the company – in fact this is just a ploy to steal your money. Anybody giving money to these firms stands a very real chance of losing it all. If you get a call like this and you’re not sure what to do, please look at the warnings on our website or call us so we can talk you through your options.”
More information on scams and tips on how to avoid them can be found on the FSA website at www.fsa.gov.uk/scams
The FSA regularly updates a list of firms it believes consumers should beware of on its website: www.fsa.gov.uk/warnings. Campbell & Stewart Advisory Firm was added to this list today.
If you receive any unsolicited investment advice:
• Make sure you get the correct name of the person and organisation
• Check that they are properly authorised by the FSA before getting involved. You can check at www.fsa.gov.uk/Pages/register/index.shtml.
• The FSA also maintains on its website a list of unauthorised overseas firms who are targeting, or have targeted, UK investor and any approach from such organisations should be reported to the FSA so that this list can be kept up to date and any other appropriate action can be considered. If you deal with an unauthorised firm, you would not be eligible to receive payment under the Financial Services Compensation Scheme. The FSA can be contacted by completing an online form at www.fsa.gov.uk/pages/doing/regulated/law/alerts/overseas.shtml.
• Inform our Registrar's Compliance Department on
+44 (0) 1252 821390
Details of any share dealing facilities that the company endorses will be included in company mailings.
More detailed information on this or similar activity can be found on the FSA website www.moneymadeclear.fsa.gov.uk/
.
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