Due diligence issues have seen the FCA place restrictions on London Court Ltd, the firm behind the investment platform ‘My Investment Hub’.
London Court Ltd is a Kensington-based investment firm whose activities are regulated by City Watchdog, the Financial Conduct Authority (FCA). The firm runs an investment platform called ‘My Investment Hub’, where clients can access various funds, including bonds and Individual Savings Accounts (ISAs).
An update on the FCA website outlined the firm’s failings and what measures the FCA took to mitigate risk to investors.
The FCA reported that:
- London Court Ltd had inadequate systems and controls in place to ensure investments were suitable for their clients’ needs.
- There was a lack of due diligence conducted in relation to investments on the ‘My Investment Hub’ platform.
- Since 22nd August 2023, London Court has been unable to offer any new investments on its platform or take on new clients, as outlined in a First Supervisory Notice.
- Worryingly, clients of London Court have since been targeted by individuals falsely claiming to be able to help recover lost money. This is known as a Recovery Room Scam, where fraudsters target those who have already lost money, promising they will recover it for an upfront fee. They take the fee and disappear.
What are Investment Scams?
+ −Unregulated, ‘too good to be true’, and ‘guaranteed’ high-return investment scams are losing consumers thousands of pounds.
Investment mis-selling occurs when promises are not delivered. This could be due to poor financial advice where an adviser did not complete all the necessary checks to ensure that an investment was sound and/or that it was suitable for the level of risk that you were prepared to take in your particular circumstances.
Precious metals, overseas property, green energy, and store pods are among the most commonly mis-sold investments.
TLW Solicitors’ view
+ −Sarah Spruce, Legal Director and Head of the Financial Mis-Selling team at TLW Solicitors, says:
“Some of the investments offered by London Court are clearly high-risk, and the FCA has identified that the firm does not have suitable resources, systems, or controls in place. This means that they haven’t been able to demonstrate that they can match the investments that are offered to the clients’ needs.
While the firm is unable to take on new business, they are still trading. If you are unsure about any investments through the My Investment Hub platform, please get in touch with our specialist investments team here at TLW Solicitors to explore your options.”
What should I do if I have invested in high-risk funds through ‘My Investment Hub’?
+ −If you have invested with London Court Ltd through ‘My Investment Hub’, please get in touch. We have a team of specialist claims lawyers who regularly deal with often complex investment refund claims. We understand the time limits imposed, the technical information required, as well as the claims and appeals processes involved.
Working on a ‘no-win, no-fee’ basis, we can undertake a free, no-obligation review of your case, so you know how best to proceed.
Call us on 0800 169 5925, email info@tlwsolicitors.co.uk or complete one of the forms below.
Time limits can apply, and so anyone wishing to bring a claim should do so without delay.
Minimum claim values apply.
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