Unlicensed firm ‘cloned’ FCA-authorised broker Sunderland Marine Mutual Insurance
The FCA has issued a warning about a fake ‘clone’ broker called LGS Commerce Insurance.
The clone firms use the details of genuine, FCA-authorised companies, such as their websites, names, addresses of FCA registration numbers.
LGS is a clone of FCA-authorised broker Sunderland Marine Mutual Insurance Company Limited.
The FCA said that Sunderland has no association with the fake firm.
This is the second warning about a fake insurance firm issued by the FCA within a week.
Last week the regulator warned about Zelomit, a clone broker of FCA-authorised broker Saffron Insurance Services.