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Share Dealing At Your Peril

September 29, 2011 2:28 PM

A Kent resident has received a call from the Barrington Group, a financial firm based in New York offering to buy shares at grossly inflated prices. The sellers are asked to sign a variety of paperwork in addition to paying 'a refundable bond' of several thousands of pounds, as a gesture of good will.

The Barrington Group are not authorised under the Financial Services and Markets Act 2000 to carry out regulated activity in the UK. This includes dealing and arranging deals in investments, including stocks and shares.

If you deal with an unauthorised company then the Financial Services Ombudsmen Service and the Financial Services Compensation Scheme are not available to you. You can find out if a company or individual are authorised by visiting the Financial Services Authority (FSA) Register Check Services at http://www.fsa.gov.uk/pages/register/.

If you have any concerns call Trading Standards via Consumer Direct on 0808 156 2256.