FCA Adds HUOWEALTH to Its Warning List

The UK Financial Conduct Authority (FCA) added HUOWEALTH to its Warning List on 18 September. The regulator says the firm is not authorised or registered by the FCA and may be providing or promoting financial services or products without permission.

The FCA advises consumers to avoid dealing with the firm and to beware of scams. The notice is a regulatory warning, not a substitute for checking the identity of any business that approaches a trader or investor. It is especially important to independently verify a provider when an offer arrives through an unsolicited message, social-media account, or unfamiliar website.

Why it matters

Traders who deal with an unauthorised firm may not have access to the Financial Ombudsman Service or Financial Services Compensation Scheme protection if the business fails or a dispute arises. The FCA recommends using its Firm Checker to confirm that a firm is authorised and that it has permission for the services it offers.

What to watch next

Use contact details from the FCA register rather than details supplied in an unsolicited approach. The regulator notes that unauthorised firms may change their contact information or use details that make an operation appear legitimate.