What Was Equity For Growth (Securities) Limited?
Equity For Growth (Securities) Limited (EFG) was an FCA-authorised corporate finance firm (FRN: 475953). Between 2015 and 2020, EFG acted as a principal firm for several appointed representatives, notably Amyma Ltd and Osborne Baldwin Ltd (trading as Hunter Jones).
Through these appointed representatives, EFG was involved in approving financial promotions and arranging investments for retail investors into high-risk, non-readily realisable securities, commonly known as mini-bonds. These investments included Blackmore Bond, Magna Capital Bonds, NQ Minerals, and Renewable Energy Waste Solutions (REWS).
How the Scheme Worked and Regulatory Action
Retail investors were targeted and encouraged to invest in these high-risk, illiquid mini-bonds, often under the impression that they were safe, asset-backed, or guaranteed. When these underlying bond issuers collapsed, investors were left facing significant losses.
The Financial Conduct Authority (FCA) intervened, and EFG’s regulatory permissions were initially removed in late 2021. Following a large volume of complaints to the Financial Ombudsman Service (FOS) totalling over £2.7 million in consumer redress claims, the FCA concluded that EFG was insolvent and could not pay the compensation owed to consumers.
On 25 March 2026, following an FCA petition, the High Court ordered EFG into liquidation. Subsequently, on 15 July 2026, the Financial Services Compensation Scheme (FSCS) declared Equity For Growth in default, opening the door for eligible investors to claim compensation up to £85,000.