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.
Company background (public record)
The company was incorporated at Companies House on 8 March 2012 under company number 07981279. Its status at Companies House is recorded as administration.
Registered office: C/O Rsm Uk Restructuring Advisory Llp, 25 Farringdon Street, London, EC4A 4AB.
Previously named: GROVEPARK VENTURES LIMITED.
Nature of business (SIC): 64999.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 08 Mar 2012 | Company incorporated | Companies House |
| 08 Mar 2012 | Barbara Kahan appointed director | Companies House |
| 26 Mar 2012 | Anthony Julian Fane appointed director | Companies House |
| 26 Mar 2012 | Emma Frances Fane appointed director | Companies House |
| 26 Mar 2012 | Barbara Kahan resigned as director | Companies House |
| 13 Dec 2012 | Company renamed (previously GROVEPARK VENTURES LIMITED) | Companies House |
| 14 Dec 2012 | Garret Graham, Rt Hon The Earl Of Cowley appointed director | Companies House |
| 14 Dec 2012 | Emma Frances Fane resigned as director | Companies House |
| 01 May 2013 | Andrew Joseph John Turnbull appointed director | Companies House |
| 01 May 2013 | Colin Jack Emson appointed director | Companies House |
| 01 May 2013 | Nicholas David Pilbrow appointed director | Companies House |
| 01 May 2013 | Larry Steven Trachtenberg appointed director | Companies House |
| 21 Dec 2017 | Paul Andrew Whittaker resigned as director | Companies House |
| 31 Jan 2018 | Stephen John Bell resigned as director | Companies House |
| 27 Mar 2018 | Ian Charles Sholto Mckenzie appointed director | Companies House |
| 01 Jun 2018 | James Mailor Wilson appointed director | Companies House |
| 15 Feb 2019 | FCA status recorded as: Authorised | FCA Register |
| 15 Feb 2019 | Garret Graham Wellesley approved by the FCA at the firm | FCA Register |
| 15 Feb 2019 | Andrew Joseph John Turnbull approved by the FCA at the firm | FCA Register |
| 15 Feb 2019 | James Mailor Wilson approved by the FCA at the firm | FCA Register |
| 15 Feb 2019 | Ian Charles Sholto Mckenzie approved by the FCA at the firm | FCA Register |
| 15 Feb 2019 | Martyn O'Connor approved by the FCA at the firm | FCA Register |
| 03 Oct 2019 | Ian Charles Sholto Mckenzie resigned as director | Companies House |
| 04 Mar 2021 | James Mailor Wilson resigned as director | Companies House |
| 30 Apr 2025 | Company entered administration (in administration) | Companies House |
| 01 May 2025 | Declared in default by the FSCS | FSCS |
| 01 May 2025 | FSCS update: FSCS is not currently open to customer claims | FSCS |
| 12 Jan 2026 | FSCS update: FSCS has now concluded its investigation to establish whether claims against WCL are possible | FSCS |
Focused on the firm’s early history and the events leading up to and following its failure. 16 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.
- Garret Graham Wellesley. Listed on the FCA Register as having held SMF3 Executive Director (from 09/12/2019), SMF1 Chief Executive (from 09/12/2019), CF3 Chief Executive (15/02/2019 to 08/12/2019), CF1 Director (15/02/2019 to 08/12/2019) at the firm.
- Andrew Joseph John Turnbull. Listed on the FCA Register as having held SMF17 Money Laundering Reporting Officer (MLRO) (from 21/05/2021), SMF16 Compliance Oversight (from 21/05/2021), SMF3 Executive Director (from 09/12/2019), CF1 Director (15/02/2019 to 08/12/2019) at the firm.
- James Mailor Wilson. Listed on the FCA Register as having held CF2 Non Executive Director (15/02/2019 to 08/12/2019), SMF9 Chair of the Governing Body (09/12/2019 to 26/02/2021) at the firm.
- Ian Charles Sholto Mckenzie. Listed on the FCA Register as having held CF10a CASS Oversight function (15/02/2019 to 03/10/2019), CF1 Director (15/02/2019 to 03/10/2019) at the firm.
- Martyn O'Connor. Listed on the FCA Register as having held SMF17 Money Laundering Reporting Officer (MLRO) (09/12/2019 to 05/01/2021), SMF16 Compliance Oversight (09/12/2019 to 05/01/2021), CF11 Money Laundering Reporting (15/02/2019 to 08/12/2019), CF10 Compliance Oversight (15/02/2019 to 08/12/2019) at the firm.
- Garret Graham Wellesley. Listed on the FCA Register as having held SMF3 Executive Director (from 09/12/2019), SMF1 Chief Executive (from 09/12/2019), CF3 Chief Executive (15/02/2019 to 08/12/2019), CF1 Director (15/02/2019 to 08/12/2019) at the firm.
- Andrew Joseph John Turnbull. Listed on the FCA Register as having held SMF17 Money Laundering Reporting Officer (MLRO) (from 21/05/2021), SMF16 Compliance Oversight (from 21/05/2021), SMF3 Executive Director (from 09/12/2019), CF1 Director (15/02/2019 to 08/12/2019) at the firm.
- Garret Graham, Rt Hon The Earl Of Cowley. Listed at Companies House as director (appointed 2012-12-14).
- Stephen John Bell. Listed at Companies House as director (appointed 2016-02-17, resigned 2018-01-31).
- Paul John Copson. Listed at Companies House as director (appointed 2015-03-31, resigned 2015-05-29).
Review page sources: FCA Register (FRN 631197) · Companies House (07981279) · FSCS. Public records, provided for transparency.
