On 25 March 2026, the High Court ordered that Equity for Growth (Securities) Limited (EFG), a corporate finance firm, be wound up following a petition filed by the Financial Conduct Authority (FCA). The move follows a large number of complaints from investors and concerns over the firm’s solvency and ability to meet potential compensation liabilities.
EFG acted as a principal for several appointed representatives between 2015 and 2020, including Amyma Ltd and Osborne Baldwin Ltd, which traded as Hunter Jones. An appointed representative carries on regulated activity under the responsibility of an authorised firm, known as the principal. Complaints referred to the Financial Ombudsman Service included claims related to mini bonds issued by unauthorised companies and promoted by EFG’s appointed representatives Amyma Ltd and Hunter Jones.
FCA petition and insolvency concerns
The FCA considered that EFG was insolvent and did not have appropriate resources to deal with Financial Ombudsman Service claims. As a result, the firm was deemed unable to pay any compensation that consumers might have been owed. To address this, the FCA filed a petition on 18 October 2024 for EFG to be wound up so that eligible claims could be assessed by the Financial Services Compensation Scheme (FSCS).
On the same date as the petition, the FCA imposed restrictions on EFG to prevent it from conducting regulated activities. These steps were taken to protect consumers and to ensure an orderly process for handling potential claims arising from the firm’s activities and those of its appointed representatives.
FSCS claims process for affected investors
The Financial Services Compensation Scheme protects consumers when financial services firms fail and is the compensation scheme for investors of UK authorised financial services firms, subject to eligibility criteria. The FSCS is operationally independent of the FCA.
Following the High Court’s winding-up order, the FSCS is now open to customer claims related to EFG. The scheme is investigating the firm to determine whether claims meet the qualifying conditions for compensation. This includes claims from affected investors whose outstanding cases at the Financial Ombudsman Service were closed pending the outcome of the petition.
Affected investors are directed to refer to the FSCS’s dedicated EFG page for further information on how to submit claims and the status of the FSCS’s investigation into the firm and associated products, including mini bonds promoted by EFG’s appointed representatives.
