Boiler room scam guidance
It has come to our attention that many shareholders have received unsolicited phone calls or correspondence concerning investment matters. While some communications may be genuine, others may be an example of a 'boiler room fraud' specifically designed to illicit monies from investors by convincing them to buy overpriced, untradable or non-existent shares. Further information on the operation of boiler room frauds is available on the FSA website.
The FSA provides a list of regulated firms that must adhere to certain standards through which it is recommended to deal. These firms are covered by the Financial Ombudsman Service complaints procedure and may provide access to compensation schemes. If you choose to deal with an unregistered firm then you won't have access to these procedures. Visit the FSA website to access the register of regulated firms and their agents.
To reduce the potential risk of fraud happening to you, please consider the following:
Be very wary of any unsolicited advice
If you are buying or selling shares, only deal with brokers registered in the UK
Ensure all your certificates are kept in a safe place
Keep all correspondence from the Registrars which contains your shareholder reference number in a safe place. Destroy correspondence by shredding
If you change your address inform the Registrars. If you receive a letter from the Registrars regarding a change of address and have not recently moved house, please contact them immediately. You may be the victim of identity theft
Know when the dividends are paid. Consider having your dividend paid directly into your bank to reduce the risk of cheques being intercepted or lost in the post. If you change your bank account, inform the Registrar of the details of your new account. Respond to any letters the Registrar sends you about this.
You may contact Share Registrars, Equiniti on 0845 300 0430 if you have any concerns or queries.