The administrators of collapsed discretionary fund management firm Beaufort Securities have warned the UK’s lifeboat scheme that its clients are being targeted by potential scammers.
Individuals are being approached by people claiming to represent PwC, Beaufort, The Share Centre and other third parties, asking them to transfer their money.
The Financial Services Compensation Scheme (FSCS) said: “These individuals are not acting on behalf of the administrators, PwC or any nominated brokers and Beaufort clients should ignore any requests of this nature.
“We encourage clients to stay vigilant and act cautiously when receiving communications about the administration.”
Background
Beaufort entered administration in March 2018 after the Financial Conduct Authority made an urgent application to the High Court, after an investigation led it to believe that Beaufort and its clearing arm, Beaufort Asset Clearing Services, were insolvent.
The firm was also indicted for fraud in the US.
PwC was appointed administrators and, in June, it was confirmed that nearly all individual customers of Beaufort Asset Clearing Services would be protected by the FSCS.
Two months later, 15,000 clients were acquired by The Share Centre.
