FCA Bans Credit Broker For Misleading Investment Advice

By Lucia Osborne-Crowley (November 16, 2021, 3:47 PM GMT) -- The City watchdog has banned a credit broker from offering its services in the U.K. after receiving complaints from consumers about the company making misleading statements and offering investment services without permission.

The Financial Conduct Authority said on Monday that it has rescinded its authorization of Marvell Enterprises Ltd., which was given permission in early 2021 to act as a credit broker in the U.K. market.

The regulator later learned that Marvell was giving out false information about its FCA authorization and about the level of protection investors would receive from the Financial Services Compensation Scheme, which is the U.K.'s lifeboat...

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