Wellesley & Co Limited (WCL)
FCA Investigation Closed – No Further Action
The Financial Conduct Authority (FCA) has now closed its investigation into Wellesley & Co Limited (WCL), confirming on 17 September 2025 that it found no evidence of serious misconduct or fraud and will take no further action.
Why the Investigation Was Launched
The FCA investigation began in 2022, following a Company Voluntary Arrangement (CVA) by the unregulated firm Wellesley Finance Ltd in October 2020, which left around 12,000 investors owed more than £134 million. This triggered a broader review of the Wellesley Group, including Wellesley & Co Limited, the only authorised entity within the group.
The regulator examined the way in which high-risk property-backed investments had been promoted and sold to retail investors. Concerns centred around whether customers had been misled about the risks involved and whether key warnings were missing or unclear.
FCA Findings
Following a detailed review of marketing materials, risk warnings, and investor evidence, the FCA concluded that the risks were fairly described. It found that investors were adequately informed about the high-risk nature of the property development investments, including the possibility that they could lose all of their money.
Importantly, the FCA confirmed that it found no evidence of serious misconduct or fraud, and that there were no grounds for enforcement action. It also noted that investors were clearly told that these products were not protected by the Financial Services Compensation Scheme (FSCS).
While approximately £80 million has since been returned to investors through the CVA, the FCA acknowledged that some individuals have suffered total losses. However, it concluded that these losses resulted from the inherent risks of the investments rather than any regulatory breach.
Company Background
Wellesley & Co Limited was incorporated on 8 March 2012 and ceased to be authorised on 15 February 2019. It entered administration on 30 April 2025.
According to Companies House and the FCA Register, the company formed part of the wider Wellesley Group, alongside Wellesley Finance Ltd and Wellesley Group Limited. WCL was the only regulated entity within the group structure.
Who Was Involved
The following individuals have been listed as involved in regulated activities at WCL:
Current / Recent
- Garret Graham Wellesley
- Andrew Joseph John Turnbull
Previous
- James Mailor Wilson
- Ian Charles Sholto Mckenzie
- Martyn O’Connor
What This Means for Investors
The FCA’s decision to close its investigation means that no further regulatory or enforcement action will be taken against WCL or its associated individuals. At this stage, no compensation or redress scheme has been announced, and the FSCS remains closed to new claims relating to Wellesley & Co Limited.
Some investors may still have ongoing complaints with the Financial Ombudsman Service (FOS). The FOS has confirmed that it will contact affected individuals directly to explain any next steps.
If you invested through Wellesley & Co Limited or related companies, it may still be worth reviewing your situation. In some cases, investors were introduced or advised by other regulated firms, which could create an alternative route to compensation.
How We Can Help
At Claim My Loss, we specialise in helping clients who have suffered financial losses through poor advice or unfair practices. Even where a firm has entered administration or an investigation has closed, there may still be opportunities to bring a claim through other regulated parties.
Our team can assess your circumstances to determine whether your investment was arranged or advised by another FCA-authorised firm that failed to act in your best interests. We have helped thousands of clients recover money on a no-win, no-fee basis, giving them confidence that there are no upfront costs or risks.
If you’d like to understand whether you could still make a claim, you can start your claim online or book a call with one of our experts today.
