Do you have to be IFA registered to sell share tips ??

rjay

Active member
Jun 2, 2003
122
0
26
46
Bath
www.TradingOpinions.com
#1
Do companies have to be registered with anyone (such as the IFA) in order to sell their share tips or is it completely unregulated ?? Is there some kind of disclaimer that these companies & individuals use so as to avoid coming under the remit of the authorities ?
 

rog1111

Active member
Jan 30, 2004
673
10
28
#2
If you are giving advice, then I think that the FSA will want to know about your activities. Best contact them direct & ask.

http://www.fsa.gov.uk/

Switchboard
From UK: 020 7066 1000
From Overseas: +44 20 7066 1000

rog1111
 
Jan 14, 2003
8,424
870
173
UK
#3
When I was taking IFA qualifications I remember that newspaper columnists that gave share tips had no requirement whatsoever to be authorised. I would think the situation is still the same.


Paul
 

options

Well-known member
Jul 19, 2001
2,374
217
73
64
#4
If you try to charge people for your share tips/advice; without being regulated (England) Can't comment on other countries;
ie not qualified to give investment advice, then the FSA will come down on you like a ton of bricks. They close down and prosecute on a regular basis, that most people just don't get to hear about.

Maybe because they are such clear cut cases. Not authorised = can't charge = prosecution.

However if you set up a site/newsletter and put in a disclaimer that this was for fun. testing etc, you could get away with it. (note the could), but then you wouldn't be able to charge would you.

And I think, though not too sure, that you can only give investment advice to actual 'clients' of yours to begin with.

As said above though, e mail or phone the FSA direct and ask them.

The regulations in USA for example appear to be more lax and various sites abound. Dependant on your view, we are either lucky or not that the FSA are there to (supposedly) protect us.