FCA Warning List September 2026: Unauthorized Brokers and Clone Firms to Watch Out For

Every month, financial scammers refine their tactics, making their schemes more sophisticated. Some create websites that meticulously mimic legitimate brokers, while others impersonate authorized companies to convince victims they are dealing with trustworthy financial institutions.

The Financial Conduct Authority (FCA), the UK's financial regulatory body, updated its FCA Warning List for September 2026 with several new unauthorized trading platforms and Clone Firms. In the same month, the FCA also proceeded to sue a company that sold loan notes without authorization in the High Court, underscoring its ongoing rigorous enforcement against offenders.

This article will examine which companies have been added and updated, how the scam trends have shifted this month, and what real cases investors should learn from.

Companies Added and Updated in September 2026

Newly Added: New Companies Added to the Warning List

Updated: Companies with Updated Information

What is a Clone Firm and Why is it Dangerous?

A Clone Firm is a website or individual that impersonates a genuinely authorized company by using its name, address, registration number, logo, or other details from the FCA. This is done to deceive investors into believing they are dealing with a legally regulated company.

What makes a Clone Firm more dangerous than a typical fake company is that it borrows the credibility of an already reputable, legitimate firm. When investors search for the company name or registration number, they find it matches the real register, leading them to mistakenly believe it's safe, even though they are communicating with a different entity.

In practice, scammers often alter only the contact details, such as phone numbers, email addresses, or website domain names, making them slightly different from the real company. Money transferred through these fake channels is therefore not associated with the genuinely authorized company, and if problems arise, investors will not be protected by the Financial Ombudsman Service or the Financial Services Compensation Scheme.

Therefore, what should be done is not just checking the company name, but comparing all contact channels with the information on the FCA Financial Services Register or other official sources directly before contacting or transferring any money.

This month, a particularly striking case involves Hargreaves Lansdown, a well-known financial services company among the British public, being impersonated as a Clone Firm. This reflects that the more recognizable a brand is, the more scammers want to use it to build credibility, as victims often don't suspect a familiar name.

Scam Trends Observed in September 2026

Fake Trading Platforms Dominate New Listings Again

Most of this month's new listings are platforms claiming to offer trading or investment services, such as Finsbury Markets, Velomarkets, TradeWell, LEGACY TRADING GLOBAL, and PROFIT VENTURES LIMITED. These names deliberately imply easy and quick profits, unlike August, when scammers favored names related to loan notes and wealth management.

Information from the FCA's warning page for Finsbury Markets indicates that this company is unauthorized and may be reaching victims in the UK through multiple websites and phone numbers, a pattern frequently seen with other fake trading platforms. Using names that directly imply trading is likely an attempt to target investors interested in fast-return markets like forex or crypto. Regardless of how official a website appears, the first step should always be to check the platform's authorization status before opening an account or transferring money.

Clone Firms Continue to Emerge, Though Proportion Decreased from Previous Month

Out of the 12 new listings this month, two were identified as Clone Firms: FxBlue Bridge and NovaTask. Although their proportion has decreased from August, when Clone Firms accounted for almost half of new listings, this method remains a continuous choice for scammers because it requires minimal investment while providing free credibility from legitimate companies.

More notably, among the updated listings, four out of six were Clone Firms: Coverfast/TempDrive, Capital Debt Financing, DN Miner, and Hargreaves Lansdown. This indicates that scammers previously listed are not ceasing their activities but continue to adapt their channels to operate.

What Do Repeatedly Updated Listings Tell Us?

Bluefield Investments and Rock Point Partners were added to the list in April and June 2026, respectively, but their information was updated again this month. This means both entities are still active and have not disappeared after being listed.

For investors who have seen these names, the caution is not to assume "one check is enough," as scammers frequently change domains or contact channels. Therefore, regularly rechecking the latest status on the Warning List remains essential, even if you have checked before.

Real Case: FCA Sues Hunter Jones in High Court Over Unauthorized Sale of Loan Notes

The most significant enforcement action in September 2026 was the FCA's lawsuit against Osborne Baldwin Limited, trading as Hunter Jones and Hunter Jones Group, filed in the High Court on September 21, 2026.

According to the FCA's statement, the authority alleges that Hunter Jones sold loan notes to investors without authorization to conduct regulated activities. Under UK law, such activities must always be authorized by the FCA. The FCA is therefore asking the court to order the company to immediately cease these activities and return funds to affected investors.

Reports from Crowdfund Insider and The Independent newspaper both state that this company is managed by Reece Mennie, a social media influencer, and the FCA itself emphasizes that the process is still in its early stages.

This case is a clear example that investment scams don't always come in the form of complex digital platforms. The sale of loan notes or any investment product requires authorization from the FCA. If a seller cannot demonstrate verifiable authorization status, regardless of whether they are a celebrity or have a large following, investors should withdraw and verify directly with the FCA before making any decisions.

Warning Signs of Fake Trading Platforms and Clone Firms

• Company or platform name implies unusually fast and easy trading returns.
• Name is similar to a genuinely authorized company but with slight differences in spelling or suffixes.
• Contact phone number or email does not match the official information of the real company.
• Has multiple interconnected website domains and changes domains immediately when scrutinized.
• Offers to sell loan notes or investment products without providing a verifiable registration number.
• Cannot be verified through the FCA Financial Services Register.
• Pressures you to transfer more money or continue investing by citing past returns.
• Displays performance results that cannot be independently verified.
• No verifiable company information or address in business registries.
• Avoids answering directly when asked about regulatory status.

How to Check Financial Companies Before Investing

Before deciding to use any financial service or investment platform, you should seek information from neutral sources. Do not rely solely on advertisements, company websites, or the words of an investment advisor.

Key steps to take include:

• Search for the company name and website name on the FCA Warning List.
• Verify the company through the FCA Financial Services Register.
• Compare phone numbers, emails, and addresses with the company's official information.
• Check if the company name is being used as a Clone Firm.
• Be wary of investment providers who cannot show a verifiable registration number.
• Review performance history from independent sources, not just what the provider offers.
• Search for additional company information via the TrustFinance broker search page to view licenses and real user reviews.
• Contact your bank immediately if you suspect you have transferred money to an unauthorized company.

The point to emphasize again is that verification must cover contact channels, not just the company name, because Clone Firms meticulously copy the names and registration numbers of real companies.

Supplement Your Verification with TrustFinance

In addition to direct verification with regulatory bodies, investors can also use TrustFinance as another source of information to evaluate financial companies.

TrustFinance compiles essential information for each company in one place, including license status, company details, real user reviews, and associated risk signals. This provides a comprehensive overview before making a decision. You can search for the company or platform of interest on the TrustFinance broker search page.

The TrustScore system helps summarize overall trustworthiness, while the License Monitoring Program (LMP) monitors the status and changes of licenses.

However, no single score or platform should be used as the sole evidence. Investors should always verify information directly with regulatory bodies and compare data from multiple sources before making any decisions.

Conclusion

The FCA Warning List for September 2026 tells us that fake trading platforms have once again become the primary form of new listings. As for Clone Firms, although their proportion in new listings has decreased, they continue to appear among updated entries, and this time even impersonated a well-known brand like Hargreaves Lansdown.

The Hunter Jones case, where the FCA sued in the High Court, also serves as a lesson that selling investment products like loan notes always requires authorization, and regulatory bodies are serious about prosecuting offenders, even those with a strong social media presence.

Before entering personal information, opening an account, or transferring money to anyone, always check the authorization status and contact information from official sources. If you find a company name or website on the Warning List, cease contact and stop transferring money immediately.

Check the latest list of companies and websites warned by the FCA on the FCA Warning List.