FCA-Authorised Broker ITI Capital Placed in Special Administration

ITI Capital Ltd, a brokerage authorised and regulated by the Financial Conduct Authority that helped customers invest in shares and bonds, entered special administration on 25 September 2026, the regulator announced. Duncan Perring and David Soden, both of Teneo Financial Advisory Ltd, were appointed as special administrators.

The firm, ITI Capital Limited, holds firm reference number 171487 and is based at Level 3, 38 Threadneedle Street, London EC2R 8AY, according to the regulator’s published firm details. It looked after investments on behalf of customers. On 10 August 2025, ITI Capital agreed to stop carrying out most regulated activity in the UK and overseas and to stop accepting any new client money or custody assets, the FCA said.

What the Special Administration Involves

Special administration is a modified insolvency procedure for certain investment firms, the FCA explains, under which the court appoints insolvency practitioners as special administrators to take control of and manage the affairs of the firm. According to the regulator, the administrators’ objectives are to return client money and custody assets as soon as they reasonably can, to ensure timely engagement with market infrastructure bodies and the authorities, and either to rescue the firm as a going concern or to wind it up in the best interest of creditors. The special administrators are licensed insolvency practitioners and officers of the court who must comply with all insolvency law.

Teneo’s case portal records the appointment under case code ITICA0002I, dated 25 September 2026, and names David Philip Soden and Duncan Perring as the insolvency practitioners, based at The Colmore Building, 20 Colmore Circus Queensway, Birmingham B4 6AT. The portal lists 13 case documents published on 25 September 2026, including an Administration Creditors’ Guide to Fees, a Creditor Questionnaire, a Proof of Debt form, Statements of Insolvency Practice 2 and 9, and a Creditors’ Guide to Administration. Daisy Cartlidge of Teneo is named as the case contact.

The special administrators will assess the money and assets held by ITI Capital and work to return them to clients where possible, deciding how best to do so, the FCA states. They will gather information from creditors and clients about payments made to or owed by the firm, and they will write to clients within eight weeks to explain how they plan to return client money and assets and how clients can make a claim.

Client Money, Compensation and Fraud Warnings

Costs associated with distributing money and assets back to clients, including the special administrators’ fees, may be deducted from client money or assets if there are insufficient funds to pay for their return, according to the FCA. In that situation, the Financial Services Compensation Scheme may cover the costs of distribution for eligible clients. The FSCS is the compensation scheme for clients of UK authorised financial services firms, with eligibility criteria for both clients and businesses; if a claim is eligible, it may cover any shortfall in client money or assets, and the cost of returning them, up to £85,000. Where required, the special administrators will work with the FSCS to determine which clients or businesses will be covered and will provide further updates.

ITI Capital remains FCA authorised and subject to the regulator’s rules during the process, and the FCA says it will work with the special administrators to seek the best outcome for customers. Clients with questions can contact the special administrators at [email protected], creditors at [email protected], or by telephone on 0113 396 0127. The FCA also points clients to its Consumer Helpline on 0800 111 6768, 0300 500 8082 or +44 207 066 1000, and recommends that anyone with a complaint or claim against the firm contact the special administrators.

The FCA cautions customers approached by a claims management company or law firm. For most customers there is no benefit in involving a third party in reclaiming their assets, and such firms will likely seek a fee that may reduce what customers get back; anyone considering using one should first discuss it with the special administrators.

The FCA also warned customers to remain alert to fraud, saying it is aware of individuals using ITI Capital’s details to suggest they work for the genuine firm, a tactic it calls a cloned firm and says is typically part of a scam. A Warning List entry first published on 10 July 2020 identifies a clone operating as “ITI Capital Limited/ Itistocks brokers,” using an address at 25 Old Broad Street, London EC2N 1HQ and the website itistockbrokers.com; the entry states that the genuine firm has no connection with the clone. The regulator advises customers to verify firms through the FCA Firm Checker and says anyone cold-called by someone claiming to be from ITI Capital, Teneo or the FCA should end the call and call back using the published numbers.