FCA action leads to eight firms entering liquidation
Following a number of petitions by the UK Financial Conduct Authority (FCA), the Court ordered that eight regulated financial services firms be wound up.
The firms are:
- Cavendish Incorporated Ltd
- Cottesmore Associate Ltd
- Marvell Enterprises Ltd
- Grosvenor Associates Ltd
- Renaissance Advisory Ltd
- Falcon Financial Solutions Ltd
- Thestral Financial Services Ltd
- Semantic Business Services Ltd
These firms appear to have connections to each other. None of the firms have ever been permitted to provide regulated investment services and the FCA is aware that consumers may have invested substantial sums with at least two of the firms (Cavendish and Marvell).
The firms failed to respond to communications from the FCA and the regulator believes they posed a significant risk to consumers.
The FCA took action to prevent these firms from causing further harm to consumers and so that, if the firms hold any assets, they can be recovered for the benefit of anyone owed money by the firms.
The process of winding up the firms and liquidating any assets will be carried out by the Official Receiver. They can be contacted using the details below.
- Write to: The Official Receiver, K Hudson, P O Box 16664, Birmingham B2 2JQ
- Email: PIU.OR@insolvency.gov.uk
- Phone: 0300 678 0016
Affected consumers should contact the Official Receiver with details of any claims for compensation. They can also contact the Financial Services Compensation Scheme (FSCS) but should note that FSCS cover may not be applicable.
FSCS protects consumers when financial services firms fail. It is the compensation scheme for customers of UK authorised financial services firms. It has eligibility criteria both in respect of the people and businesses who are covered. Whether you have access to FSCS protection may depend on whether you have received any regulated services, such as investment advice.
The FSCS is now considering claims against some of the firms.