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.

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