A commercial advisor firm which consults on infrastructure investment has been shamed by the Financial Conduct Authority (FCA) over its suspected misconduct…

Wakamy, Libman & Associates, of Nihonbashi Hongoku-Cho, Tokyo, is believed to have been targeting people in the UK whilst promoting or providing financial services without authorisation from the authority.

This comes despite the fact that almost all firms offering financial services in the UK are required to be authorised by the FCA. The regulator stresses that “…some firms act without out authorisation and some knowingly run scams….”

According to the firm’s website, Wakamy, Libman & Associates “can help your business reach its optimum level of productivity” focusing on enhancing capital resources and asset administration services.

Money given to a non-regulated firm is not safe guarded by the Financial Ombudsman Service or the Financial Services Compensation Scheme.

The FCA advises that individuals only deal with authorised firms and check the Financial Services Register. If a firm does not appear on the register but claims it does, it is recommended that you report the firm to the FCA’s Consumer Helpline on 0800 111 6768.

For further information on protection from unauthorised firms, including a ten step guide, please visit www.fca.org.uk.