UK’s Financial Conduct Authority (FCA) has been active in warning about clone firms, that is, about unauthorized businesses using details of authorized companies in order to lure investors more easily.
One more such warning is out today and it concerns a company, which has already attracted the attention of regulators in New Zealand. Just a couple of days ago, New Zealand’s Financial Markets Authority (FMA) included Tilney Asset Management in its list of unregistered businesses. Today, the FCA says Tilney Asset Management is a clone of two authorized UK companies: Bestinvest (Brokers) Limited and Tilney Investment Management.
To distinguish more easily among the clone and the authorized firms, check out the information below:
Tilney Asset Management (clone of FCA authorised firm)
Address: Winchester House, 1 Great Winchester Street, London, EC2N 2DB
Telephone: 020 3769 3794
Website: www.tilneyassetmngt.com
Email: [email protected]
FCA authorised firm details
Firm name: Bestinvest (Brokers) Limited
Firm reference number: 165169
Address: 6 Chesterfield Gardens, London, W1J 5BQ
Telephone: 020 7189 9999
Website: www.bestinvest.co.uk
Email: [email protected]
FCA authorised firm details
Firm name: Tilney Investment Management
Firm reference number: 124255
Address: Royal Liver Building, Pier Head, Liverpool, Merseyside, L3 1NY
Telephone: 0151 255 3000
Fax: 0151 236 1252
The regulator notes that the authorized entities are not in any way associated with Tilney Asset Management (the clone firm).
To view the announcement by the FCA, click here.