Beware of Morgan Stanley clone

On 23 October 2023 , it came to the attention of the Financial Conduct Authority (FCA) that there is a clone firm of Morgan Stanley operating in the forex market. The FCA's investigation revealed that the clone firm was using the name and details of the genuine company to gain the trust of unsuspecting individuals. The FCA warned consumers to stay away from it. Here is a screenshot and other details of the clone firm. FCA also shared the correct details of Morgan Stanley.

Name: Morgan Stanley/msaccounts.uk (Clone of FCA Authorised firms)

Telephone: +442080798113

Email: contact@msaccounts.uk

The correct details are:

Firm Name: Morgan Stanley Bank International Limited

Firm Reference Number: 195430

Address: 25 Cabot Square

London, E14 4QA, UNITED KINGDOM

Telephone: +4402074258000

Website: www.morganstanley.com

Firm Name: Morgan Stanley & Co. International Plc

Firm Reference Number: 165935

Address: 25 Cabot Square

London, E14 4QA, UNITED KINGDOM

Telephone: +4402074258000

Website: www.morganstanley.com

While exposing this copycat firm, the FCA said that almost all firms and individuals must be authorised by us if they offer, promote, or sell financial products or services in the UK. But this firm is not authorised by us but has been contacting people pretending to be an authorised firm.

The FCA warns the public to be cautious and vigilant when dealingwith financial firms, urging them to verify the authenticity of any company before engaging in any financial transactions. The Authority has advised investors to avoid such brokers and to report any suspicious activity to the authorities.

About FCA

The Financial Conduct Authority (FCA) is a regulatory body in the UK that oversees financial markets and firms to ensure they operate in a fair and transparent manner. The FCA's role includes supervising financial institutions, enforcing regulations, and protecting consumers from financial harm. The authority also works to promote competition in the financial industry and to maintain the integrity of the UK's financial system.

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