Investor centre
FSA Warning for Shareholders - Boiler Room Scams
Some time ago, we issued a warning to shareholders regarding "Boiler Room Scams". The problem seemed to go away for a little while, but in recent months it has again become prevalent. So much so that the Financial Services Authority (FSA) and the Institute of Chartered Secretaries and Administrators (ICSA) have suggested that UK listed companies help to protect their shareholders by issuing a warning about the scam.
"Boiler Rooms" are high pressure sales firms, often based overseas, that target investors by illegally offering them non-tradable, overpriced or even non-existent shares. Boiler Rooms usually target existing shareholders by legally obtaining a Company’s list of shareholders.
Please be aware that this could happen to you.
If you receive any unsolicited investment advice regarding your KCOM shares:
- make sure you get the correct name of the person and the organisation
- Check that they are properly authorised by the FSA before getting involved (visit http://www.fsa.gov.uk/register/)
- Report the matter to the FSA
- If the caller persists, hang up
For further information please see the below leaflet.
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