Member Article

FCA "concerned" about graphene investments

The Financial Conduct Authority says it is very concerned about potential boiler room scams promoting graphene investments.

The watchdog believes unscrupulous firms are offering graphene investments, the same firms who have previously offered high risk, dubious products such ascarbon credits, rare earth metals and overseas land and crops.

Scammers using “high pressure” sales tactics have been reported to the body who advise the public to avoid graphene offers.

A statement from the FCA reads: “We are yet to see any convincing evidence that there is a viable market for retail investors to make money from investments in rare earth metals.

“Manufacturing companies that use the metals almost always buy them in very large quantities, making it highly unlikely they will deal with small independent retail consumers.”

This was posted in Bdaily's Members' News section by Tom Keighley .