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Unsolicited shareholder contact
Shareholders are reminded to be extremely wary of any unsolicited advice or contact regarding their shareholdings.
In recent years there has been a significant increase in unsolicited calls or correspondence leading to share purchase fraud, most commonly known as Boiler Room scams. These are typically from overseas based individuals, often claiming to be from reputable companies, who offer to buy or sell shares that offer a huge return. UK investors, from the vulnerable individual to knowledgeable investors. The Financial Conduct Authority (FCA) suggests that UK investors collectively lose up to £200 million each year.
Should anybody receive an unsolicited call, letter or email from a firm which they are not a customer of, the Financial Conduct Authority is recommending that people should take the following steps:
- ask for the contact details of the person calling you;
- check the firm or individual's status on the FCA register;
- call the firm back on the switchboard number provided on the FCA register to make sure that the call came from the legitimate authorised firm;
- Report the scam to the FCA.
It is illegal to cold call a person to try to sell shares or other investments.
Anybody who has been contacted by a suspicious firm or has any doubts should report the encounter as soon as possible by calling the FCA on 0800 111 6768 (call rates may vary) or reporting it online: http://www.fca.org.uk/consumers/scams
Consumers also need to be aware that firms not registered with the FCA are not covered by the Financial Services Compensation Scheme. This means that should somebody invest through an unauthorised business, it is very likely they will lose their money if the firm goes bust or disappears.
For more information on Boiler Room Fraud, you can also visit www.cityoflondon.police.uk and search in the Fraud section.
Details of any share-related information that National Express endorses will be included in company mailings.