London Court Limited Enters Liquidation Amid FCA Restrictions

London Court Limited (LCL) entered creditors’ voluntary liquidation on 15 July 2024. This regulated firm acted as an Investment Manager and Individual Savings Account (ISA) manager through its ‘My Investment Hub’ platform and also traded as ‘Venicap’ from September 2020 to March 2021.

On 22 August 2023, The Financial Conduct Authority (FCA) imposed severe restrictions on LCL, preventing the firm from conducting regulated activities for new clients or new investments.

Specifically, the FCA prohibited LCL from “offering new investments on its ‘My Investment Hub’ platform or any other investment platform operated by LCL, undertaking bond administration or ISA Manager responsibilities, and facilitating new funds into existing investments”.

Earlier restrictions from the FCA included withdrawal of approval for Financial Promotions on 12 December 2019, and securing records and information systems to safeguard the firm’s assets. These measures were due to inadequate systems and controls within LCL, particularly regarding the ‘My Investment Hub’ platform, and a lack of due diligence concerning their investment offerings.

Despite being allowed to continue to provide bond administration and ISA management for investments made before the latest restrictions took effect, the cumulative impact of these stringent conditions ultimately led to LCL’s liquidation.

If you invested with London Court Limited or via its ‘My Investment Hub’ platform, CP Financial Claims can assist you in relation to potential claims for compensation through the Financial Services Compensation Scheme (FSCS).