FSA urges firms to protect investors from boiler rooms

As part of the initiative, which has been launched in conjunction with the Institute of Chartered Secretaries and Administrators (ICSA), the FSA and ICSA have produced an updated information leaflet for firms to send to their shareholders. Boiler rooms are high pressure sales firms that target investors illegally and offer non-tradable, overpriced and non-existent shares. The FSA says boiler room scams usually target existing company shareholders by obtaining a list of shareholders. The updated leaflet contains information about how to spot boiler rooms and what investors should do if th...