How you can help protect yourself and your shareholding from scams and unsolicited mail
Boiler Room Scams
Over the past few years, many companies have become aware that their shareholders have received unsolicited phone calls or correspondence concerning investment matters. These are typically from non-UK 'brokers' who target UK shareholders, offering to sell them what often turns out to be worthless or high risk shares in US or UK investments.
These operations are commonly known as 'boiler rooms'. The 'brokers' can be very persistent and extremely persuasive and a 2006 survey by the Financial Services Authority in the UK (FSA) reported that the average amount lost by investors is around £20,000.
It is not just the novice investor that has been duped in this way; many of the victims had been successfully investing for several years.
Shareholders are advised to be very wary of any unsolicited advice, offers to buy shares at a discount or offers of free company reports.
What to Do
If you receive any unsolicited investment advice:
- Make sure you get the correct name of the person and organisation contacting you
- Check the FSA Register, to see if they are properly authorised by the FSA, before getting involved
- Use the details on the FSA register to contact the firm
- Call the FSA Consumer Helpline on 0845 606 1234 if there are no contact details on the FSA Register or you are told they are out of date
- If the calls persist, hang up.
If you deal with an unauthorised firm, you will not be eligible to receive payment under the Financial Services Compensation Scheme.
Find out More
Unsolicited Mail
Johnson Matthey Plc is obliged by law to make its share register available for inspection and as a consequence some shareholders may receive unsolicited mail.
If you wish to limit the amount of unsolicited mail you receive, you can register with the Mailing Preference Service (MPS).
How to Register
Registering with the MPS, an independent organisation which offers a free service to the public, will help stop most unsolicited consumer advertising.
Online
Visit the Mailing Preference Service website.
By telephone
Call the MPS Registration Line on +44 20 7291 3310.
By post
The Mailing Preference Service (MPS) DMA House 70 Margaret Street London W1W 8SS.