CLEAR CAPITAL MANAGEMENT
Trading under the names Kalis Capital, Clear Advice, FCI, FCI Markets, FCI Capital Management, formerly Earnex.
Clear Capital Management LLP (FRN: 598743) operated as a discretionary fund manager (DFM) and investment adviser. The firm was involved in promoting fixed-rate corporate bonds issued by Corporate Finance Bonds Ltd, among other investment activities.
FCA Restrictions and Regulatory Action
In April 2019, the Financial Conduct Authority (FCA) placed restrictions on Clear Capital Management following serious concerns about how the firm was operating. These restrictions included:
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A ban on managing unauthorised alternative investment funds
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A prohibition on managing investments or dealing as an agent without FCA consent
By 22 June 2021, Clear Capital Management had ceased trading, and its FCA authorisation was formally revoked on 27 July 2021.
FSCS Default and Compensation
On 29 September 2021, the Financial Services Compensation Scheme (FSCS) declared Clear Capital Management LLP in default. This allows former clients to make claims for compensation where they have suffered financial losses as a result of unsuitable advice or mismanagement.
Investment Concerns
Clear Capital worked closely with firms such as St Pauls Marketing Ltd to promote high-risk, unregulated investments including:
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Water Bonds PLC (later Hydrology PLC)
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Unquoted securities such as Aviation & Tech Capital, Net Energy, and The House of Britannia
Many of these investments were promoted to self-certified investors, a classification that still requires firms to conduct proper due diligence and ensure clients understand the risks involved.
What to Do If You Were Affected
If you invested through Clear Capital Management, particularly in unregulated bonds or unquoted shares, you may be eligible to claim compensation via the FSCS. Even if you signed a declaration as a self-certified investor, the firm may still be liable if it failed to treat you fairly or misrepresented the risks involved.
If you transferred your pension into an investment with the company you may have been given unsuitable advice. Whilst you might not technically have been mis-sold a pension transfer, it is still important to have your transactions reviewed.
Avoid cold-calling companies as they will be earning a commission for being able to access your personal data.
Next Steps
Call us now for a phone or video consultation with one of our legal experts on 0800 041 8358 to find out if you are entitled to compensation, you may even be entitled to additional compensation if you have successfully claimed in the past.
Company background (public record)
The company was incorporated at Companies House on 7 March 2013 under company number OC383179. Its status at Companies House is recorded as dissolved.
Registered office: Mailbox Ten, Storage King Unit 1 Lewis Industrial Estate, Radford Road, Nottingham, NG7 7NQ, England.
Previously named: KALIS CAPITAL LLP.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 07 Mar 2013 | Company incorporated | Companies House |
| 07 Mar 2013 | Clear Capital Management Services (uk) Limited appointed corporate-llp-member | Companies House |
| 07 Mar 2013 | Marco Avogaro appointed llp-designated-member | Companies House |
| 01 May 2013 | Antonio Barbera appointed llp-designated-member | Companies House |
| 01 May 2013 | Nicolo Zanotto appointed llp-designated-member | Companies House |
| 12 Jul 2013 | . Clear Capital Management Services (uk) L approved by the FCA at the firm | FCA Register |
| 12 Jul 2013 | Antonio Barbera approved by the FCA at the firm | FCA Register |
| 12 Jul 2013 | Nicolo Zanotto approved by the FCA at the firm | FCA Register |
| 12 Jul 2013 | Marco Avogaro approved by the FCA at the firm | FCA Register |
| 30 Nov 2014 | Antonio Barbera resigned as llp-designated-member | Companies House |
| 31 Jul 2015 | Martin Ashley Vaughan appointed llp-designated-member | Companies House |
| 18 Aug 2015 | Martin Ashley Vaughan approved by the FCA at the firm | FCA Register |
| 14 Dec 2015 | Marco Avogaro resigned as llp-designated-member | Companies House |
| 31 Jan 2016 | Company renamed (previously KALIS CAPITAL LLP) | Companies House |
| 19 Apr 2016 | Clear Investment Management Limited resigned as corporate-llp-designated-member | Companies House |
| 13 Dec 2016 | Kalis Capital Limited appointed corporate-llp-member | Companies House |
| 23 Jun 2017 | Stewart Edward Wooles approved by the FCA at the firm | FCA Register |
| 06 Jan 2018 | Gurpal Singh Basra approved by the FCA at the firm | FCA Register |
| 09 Jul 2018 | Stephen Nicholas Brunt approved by the FCA at the firm | FCA Register |
| 05 Sep 2018 | Ashley William Eyre approved by the FCA at the firm | FCA Register |
| 01 Mar 2019 | Christopher Dominic Vaughan resigned as llp-designated-member | Companies House |
| 01 Mar 2019 | Stewart Edward Wooles appointed llp-designated-member | Companies House |
| 01 Mar 2019 | Kalis Capital Limited resigned as corporate-llp-member | Companies House |
| 09 Sep 2019 | Stewart Edward Wooles resigned as llp-designated-member | Companies House |
| 21 Apr 2020 | Martin Ashley Vaughan resigned as llp-designated-member | Companies House |
| 22 Jun 2021 | Company dissolved | Companies House |
| 27 Jul 2021 | FCA status recorded as: No longer authorised | FCA Register |
| 29 Sep 2021 | Declared in default by the FSCS | FSCS |
Focused on the firm’s early history and the events leading up to and following its failure. 6 routine entries from its active years are omitted.
Who was involved?
The following individuals are listed on public records in connection with the firm. These are matters of public record only and their inclusion does not imply any wrongdoing by any named person.
- Ashley William Eyre. Listed on the FCA Register as having held SMF17 Money Laundering Reporting Officer (MLRO) (09/12/2019 to 02/04/2020), SMF16 Compliance Oversight (09/12/2019 to 02/04/2020), CF11 Money Laundering Reporting (05/09/2018 to 08/12/2019), CF10 Compliance Oversight (05/09/2018 to 08/12/2019) at the firm.
- . Clear Capital Management Services (uk) L. Listed on the FCA Register as having held CF4 Partner (12/07/2013 to 08/12/2019), SMF27 Partner (09/12/2019 to 27/07/2021) at the firm.
- Martin Ashley Vaughan. Listed on the FCA Register as having held CF11 Money Laundering Reporting (18/08/2015 to 07/09/2018), CF10 Compliance Oversight (18/08/2015 to 07/09/2018), CF4 Partner (18/08/2015 to 08/12/2019), Responsible for Insurance Distribution (01/10/2018 to 27/07/2021) at the firm.
- Gurpal Singh Basra. Listed on the FCA Register as having held CF30 Customer (06/01/2018 to 08/12/2019) at the firm.
- Antonio Barbera. Listed on the FCA Register as having held CF30 Customer (12/07/2013 to 11/12/2014), CF4 Partner (12/07/2013 to 11/12/2014) at the firm.
- Stephen Nicholas Brunt. Listed on the FCA Register as having held CF30 Customer (09/07/2018 to 23/05/2019) at the firm.
- Christopher Dominic Vaughan. Listed on the FCA Register as having held CF30 Customer (06/01/2016 to 08/12/2019), CF4 Partner (06/01/2016 to 21/03/2019) at the firm.
- Stewart Edward Wooles. Listed on the FCA Register as having held CF4 Partner (23/06/2017 to 11/06/2019) at the firm.
- Nicolo Zanotto. Listed on the FCA Register as having held CF30 Customer (12/07/2013 to 15/12/2015), CF4 Partner (12/07/2013 to 15/12/2015) at the firm.
- Marco Avogaro. Listed on the FCA Register as having held CF30 Customer (12/07/2013 to 15/12/2015), CF4 Partner (12/07/2013 to 15/12/2015), CF11 Money Laundering Reporting (12/07/2013 to 18/08/2015), CF10 Compliance Oversight (12/07/2013 to 18/08/2015) at the firm.
Review page sources: FCA Register (FRN 598743) · Companies House (OC383179) · FSCS. Public records, provided for transparency.
