The Financial Conduct Authority said it has reviewed complaints about how it handled Wellesley & Co Ltd and upheld one complaint concerning part of the firm's authorisation process. It concluded that the failing identified did not cause investors' losses and that it had not found Wellesley & Co Ltd should not have been authorised. Complainants had raised concerns about the FCA's actions in relation to the wider Wellesley Group. Wellesley & Co Ltd was the only FCA-regulated company in the group and was responsible for approving financial promotions marketed to investors. The FCA said the losses resulted from the failure of unregulated companies within the Wellesley Group rather than from how Wellesley & Co Ltd was authorised. It has apologised to complainants for the failing identified and issued a decision letter to them.
Financial Conduct Authority 2026-04-30
Financial Conduct Authority upholds one complaint on Wellesley & Co Ltd authorisation process but finds no link to investor losses
The Financial Conduct Authority has upheld one complaint regarding its handling of part of Wellesley & Co Ltd’s authorisation process but found this failing did not cause investors’ losses or indicate the firm should not have been authorised. The authority concluded that losses stemmed from the failure of unregulated companies within the wider Wellesley Group, apologised to complainants, and issued a decision letter.