We have removed Marvell Enterprises Ltd’s permissions. It is therefore no longer authorised to carry out any regulated activities. Marvell may have been offering investments which were not protected.
Investments with Marvell Enterprises Ltd
We are aware that consumers may have invested substantial funds in bonds or loan notes issued by Marvell.
In general, a business does not have to be regulated by the FCA to raise funds by issuing shares or debt securities (such as bonds or loan notes). However, any investment services provided by firms regarding these investments are likely to be regulated, and subject to our rules.
It appears Marvell has carried out investment-related activities with consumers. Marvell has never been permitted by the FCA to provide regulated investment services.
Marvell’s actions may pose significant risks to consumers due to the potential lack of regulatory protection that would otherwise be afforded to them. Consumers may have been misled about the scope of Marvell’s permissions and the protection afforded to their investments. It is for these reasons that we have removed Marvell’s permissions.
Are investments with Marvell Enterprises Ltd FSCS protected?
It is important to remember that engaging with an authorised firm does not guarantee access to the Financial Services Compensation Scheme[1] (FSCS) or the Financial Ombudsman Service[2] if things go wrong. Whether you can access these services may also depend on whether you have received any regulated services (such as investment advice) in connection with your investment.
The FSCS cannot accept claims that are for poor investment performance.
You can contact the Financial Ombudsman Service or FSCS to see if your investments are protected, and whether you may have a claim if things were go wrong.
If you are approached to make further payments in order to release an initial investment, you should seek independent advice before making a payment.
Where can I find out more information about investing?
Before making any payments in relation to investments, we encourage consumers to see the information on our website, including our ScamSmart pages. In particular, customers should see our information on recovery room scams.
UK consumers are being increasingly targeted by recovery room scams. This is where fraudsters approach investors who have been scammed or had failed investments, offering to help them get their money back for an upfront fee.
Also see our published information for consumers considering investing in products offering high [3]rates of return.