A London-based company acting as an Isa manager has entered liquidation almost a year after the FCA placed restrictions on the firm.
London Court Limited, which offered services through the My Investment Hub platform, appointed Rehan Ahmed and Tauseef Rashid of Quantuma Advisory Limited as joint liquidators on July 15.
It acted as a bond administrator and Isa manager for a number of bonds on the platform.
It comes almost a year after the Financial Conduct Authority placed restrictions on the firm banning it from carrying out regulated activities for new clients or new investments.
At the time, the FCA said: "We are concerned that London Court Ltd has inadequate systems and controls in place to ensure investments on its My Investment Hub platform are compatible with the needs of the clients to whom investments are distributed.
"We have reviewed investments on the My Investment Hub platform and have serious concerns over the level of due diligence London Court Ltd has conducted."
The FCA also warned of clients being targeted by scammers.
The liquidators are expected to write to those who have bought a bond through the company.
My Investment Hub's website shows it offered investments in a range of sectors, including property, renewable energy and natural resources.
It also said it offered stocks and shares Isas, inheritance tax investments, enterprise investment schemes and private equity.
tara.o'connor@ft.com
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