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Arrest made in FCA boiler room investigation

An arrest has been made in connection with an FCA investigation into bolier room activity.

With the assistance of the National Crime Agency and Kent police, the FCA yesterday morning executed search warrants at addresses in London and Kent.

An individual aged 21 was arrested and interviewed. The FCA says no further details can be confirmed at this time and no individuals have been charged.

Boiler room operations usually use high-pressure selling techniques to persuade consumers to buy shares that are often worth very little or nothing at all.

Boiler room scams constitute unauthorised business. Carrying out unauthorised business is an offence punishable by terms of up to two years imprisonment or a fine, or both, and making misleading statements is punishable by up to seven years imprisonment or a fine, or both.

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