Broker targeted by FCA

Broker targeted by FCA




A brokerage has been exposed by the regulator for allegedly targeting UK citizens without FCA authorisation….

 A brokerage has been exposed by the regulator for allegedly targeting UK citizens without FCA authorisation.


The Financial Conduct Authority (FCA) has recently warned the public of a firm that is suspected of  providing financial services or products, without being authorised.

The firm, Capital Resource Development Company, which is based in Switzerland (Thurgauerstrasse 40, Zurich, CH-8050) and the Cayman Islands (64 Earth Close, 3B Landmark Square, PO Box 1290, KY1-1108), is believed to be targeting people in the UK. 

The brokerage’s specialisms include giving expert guidance on wealth management, where it offers a range of services covering assets, including commercial property.

On its website, it states: “…we do not manufacture and sell our own financial products but instead objectively source and select leading products for our clients.”

It adds: “Our portfolio managers are unbiased and are not under pressure to push in-house funds or solutions, instead our portfolio managers objectively analyse potential solutions from our client’s perspective, searching for fair pricing, attractive terms and the potential to produce strong risk-adjusted returns.”

Its website also noted: “At CRDC, we don’t slavishly follow benchmarks or indices or spend time replicating the efforts of other analysts.”

The FCA reminded: “Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.”

It was strongly advised by the watchdog that individuals only deal with financial firms that are authorised. To report an unauthorised firm, the FCA’s Consumer Helpline can be contacted on 0800 111 6768. 

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