The UK Financial Conduct Authority (FCA) has imposed restrictions on London Court Limited for failings relating to the ‘My Investment Hub’ platform.

The FCA actions mean that London Court Ltd cannot conduct regulated activities for either new clients or new investments. It can however provide bond administration and ISA management services to existing clients and investments they already hold.

The FCA is concerned that London Court Ltd has inadequate systems and controls in place to ensure investments on its My Investment Hub platform are compatible with the needs of the clients to whom investments are distributed.

The regulator has reviewed investments on the My Investment Hub platform and has serious concerns over the level of due diligence London Court Ltd has conducted.

The Authority has serious concerns that the firm does not have:

1. Appropriate systems and controls in place to determine the target market for investments offered on the platform, to assess the compatibility of the investments offered with the needs of the clients to whom they are distributed or to ensure that it is in the best interests of the Firm’s clients to distribute investments to them.
2. Adequate resources.

London Court Ltd is still able to provide ISA Management services to existing clients.

If you have any concerns, you can contact London Court Ltd or the investment provider which directly manages your investment.