Financial services provider Astaria Group has just been added to the warning list of the Financial Conduct Authority in the UK as a “clone” firm.
According to the official warning the firm does not hold the proper license by the FCA for providing financial services to British traders and is operating outside the law.
Astaria Group does not disclose much information about itself on its website and we see no trading platform available, however, it does purport to be “regulated” by the FCA and even gives a phony reference number in order to make it more believable. The firm supposedly offers wealth and asset management, as well as “institutional investing.”
According to the official warning issued by the British financial watchdog – Astaria Group has presented information on its website which posits some sort of connection between Astaria and Active Asset Management (Scotland) Limited, however, such information is divorced from reality.
The FCA has provided traders with a consumer helpline and urges anyone that has been “cold called” or targeted in any way by representatives of Astaria Group to reach them on 0800 111 6768. UK’s main financial regulator regularly updates its warning list and recommends traders always run a quick check on a brokerage on their online registry before investing funds with them.