Boiler rooms are middle-aged crisis, says FSA

The regulator says those getting caught out are actually investment professionals rather than inexperienced new investors, based on the number of telephone calls to its consumer helpline. Some 87% of 105 calls surveyed were from men, with 44% aged 35 to 65, the regulator says. About 42% of calls were from people aged 55 or older, while 30% of all calls were from people described as professionals or directors. The FSA says even experienced investors need to remember that “if it sounds too good to be true, it often is.” More than 110 foreign-based unauthorised firms are currently ...