The Financial Conduct Authority censured Equity for Growth (Securities) Limited for approving unfair, unclear and misleading minibond promotions. The promotions failed to disclose very high commissions charged by appointed representatives and other introducers or explain that the fees would be deducted from investors’ money, preventing investors from making fully informed decisions. The FCA did not impose a financial penalty because the firm is insolvent and being wound up, and a penalty would reduce funds available to creditors. The penalty would otherwise have been GBP 386,467. The High Court ordered the firm to be wound up on March 25, 2026, following an FCA petition and restrictions preventing it from conducting regulated activities. Investor claims will be assessed by the Financial Services Compensation Scheme.
Financial Conduct Authority2026-07-30
UK Financial Conduct Authority censures Equity for Growth over misleading minibond promotions
The Financial Conduct Authority censured Equity for Growth for approving misleading minibond promotions that omitted very high commissions and their deduction from invested funds. It waived a potential GBP 386,467 penalty because the firm is insolvent and being wound up, while investor claims will be assessed by the Financial Services Compensation Scheme.