We are concerned about investments involving Gemmax Solutions. Find out more and how to protect yourself from unauthorised firms selling carbon credits.
Several unauthorised firms promoting and selling carbon credits have been telling investors that Gemmax Solutions, a firm regulated by us, will handle the money in their investment.
We believe this is done to suggest investors will be protected as though they are dealing with an authorised firm. But this is not correct.
We continue to receive many reports from people who have been approached by firms promoting and selling carbon credits in the UK.
These reports usually include the investor stating that they have lost money on the investment by not being able to sell, or at least get a competitive rate, when trading the carbon credits.
Many of the firms involved in promoting and selling carbon credits are not authorised by us. If you buy an investment product from an unauthorised firm – even if a regulated firm like Gemmax Solutions handles the money in the investment – you will not have access to the Financial Ombudsman Service (FOS) or Financial Services Compensation Scheme (FSCS) if things go wrong.
As we do not regulate carbon credits as an investment product in the same way as shares or units, you also will not have access to the FOS or FSCS where the firm involved is authorised by us. This includes where you cannot sell or trade carbon credits.
If you are concerned about an investment in carbon credits you should contact our Consumer Helpline on 0800 111 6768.
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