The Financial Services Compensation Scheme has opened investigations into two more regulated firms as it launches a spate of probes into firms.
So far this month the FSCS, the industry-funded consumer safety net, fail, has opened five investigations into regulated firms and declared one firm as failed.
The latest investigations are into Ivy Marketing Services Ltd (FRN: 798228) and UK authorised insurance intermediary Anthony Jones (UK) Ltd (FRN: 304602).
Ivy Marketing Services Ltd (Ivy) has been authorised by the Financial Conduct Authority (FCA) since 2018 and, according to the FSCS, was involved in promoting and/or introducing customers to investments in Vaquita Capital. Vaquita Capital was not authorised by the FCA and was the subject of an FCA consumer warning in April 2023.
The FSCS says it has contacted Ivy and considers the firm is likely to be unable to meet claims against it. The FSCS says it cannot consider claims directly against Vaquita Capital as the firm was not authorised and therefore not protected under FSCS rules.
In April 2023 the FCA issued a consumer warning that Vaquita Capital may be providing financial services or products without authorisation and advised consumer to avoid dealing with the firm. The warned applied to Vaquita Capital and associated firms Vaquita Fund SLP, Vaquita Services Limited, IGlobal Management and Robinson & Cooper Wealth Management.
The FCA said the firm was believed to be targeing people in the UK.
The FSCS said the second firm under investigation, Anthony Jones (UK) Ltd, has agreed to stop carrying out any regulated activity, including acting as an insurance intermediary.
The Financial Conduct Authority has now urged customers who purchased an insurance policy through AJL to contact the underwriter or insurer directly to check whether the policy is valid and cover remains in place.
On 11 August 2026, Duncan Beat and Nicholas Simmonds of Quantuma Advisory were appointed as joint liquidators of AJL which is now going through an insolvency process. Customers have been given details of the alternative broker now dealing with their policy.
The FCA warned that while many customers have confirmed that their insurance cover remains in place some may find that despite paying for insurance, the policy was not placed with an insurer and so no cover exists.
The probes come as the FSCS launches a spate of investigations. Investigations under way this week include FSCS launches probe into 2 more failed firms and FSCS investigates failed ISA and SIPP manager.