On August 25, 2016, the Financial Conduct Authority issued a warning regarding BlueCrest Capital Management (cloned firm)

In its notification, the FCA said "We believe fraudsters are using the details of an authorised firm to try to convince people that they are genuine. See how to protect yourself from scammers of this ‘cloned firm’. ".

The FCA went on to note that

We have received reports that fraudsters are using the name or other details of a genuine firm, or the ‘firm reference number’ (FRN) we give to authorised firms, to try to scam people in the UK.

This is what we call a 'cloned firm', and fraudsters are using this tactic to make their claims seem genuine or to suggest they work for an authorised firm.

Cloned firm

The details that scammers are using or giving out to people include:

BlueCrest Capital Management (Clone of FCA Authorised Firm)

promoting BlueCrest New Investment Capital Hedge Fund (NewCap)

Genuine firm

This genuine group of companies has no association whatsoever with the ‘cloned firm’. It is authorised to offer, promote or sell financial services or products in the UK:

BlueCrest Capital Management (UK) LLP, FSA Number: 515304
BlueCrest Capital Management LLP
BlueCrest Capital Management Guernsey Limited
BlueCrest Capital Management Guernsey L.P.
BlueCrest Capital Management (Singapore) Pte. Ltd
BlueCrest Capital Management (New York) LP
BlueCrest Capital Management (Boston) L.P.

Click here to view the FCA's original notice