The FCA has restricted HDH Investment Services from carrying out any regulated activities – including investment advice – on concerns the firms may have given unsuitable financial advice to some of its customers, potentially leading to financial loss.
HDH agreed to cease regulated activities on 20 January and is writing to all its customers to explain what these restrictions mean for them.
Any clients of HDH who were given unsuitable advice or were unhappy with the service they received can issue a complaint to the firm, or notify the Financial Ombudsman Service, the FCA said.
The regulator also warned consumers to be wary of recovery room scams, whereby fraudsters approach investors who have been given unsuitable advice, offering to help them for an upfront fee.
