FCA issues consumer warning

The Financial Conduct Authority (FCA) has warned consumers to be ‘especially wary’ of an insurance company which may have been selling services without authorisation.

The warning came via the FCA’s ‘Scam Smart’ alert system which claims the company, Halifax and Penn, did not have a license to offer financial services.

‘We believe this firm has been providing financial services or products in the UK without our authorisation,’ the FCA said in a statement.

It continued, ‘Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.

‘However, some firms act without our authorisation and some knowingly run investment scams.

‘This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.’

Halifax and Penn offers motor, travel, life and home insurance.