FCA takes Hunter Jones to High Court over alleged unauthorised loan note sales

The FCA announced the proceedings on 21 September 2026, saying it is asking the court to order Hunter Jones to stop the alleged unauthorised activity and to require money to be returned to investors. The regulator warned that consumers who deal with unauthorised firms are at greater risk and may lose their money.

The case is at an early stage. No trial date has been set and the High Court has not yet determined the FCA’s claim — meaning the allegations against Osborne Baldwin Limited remain unproven.

Loan notes are high-risk, typically illiquid debt instruments sold directly to retail investors. Under the Financial Services and Markets Act 2000, firms must be authorised or exempt to carry out most regulated financial services activity in the UK; doing so without authorisation is prohibited and can trigger civil enforcement action.

This is not the first time Hunter Jones has drawn regulatory attention. In November 2025, the FCA listed Osborne Baldwin Limited, Hunter Jones Group and HJ Collection on its public warning list, identifying the firms as unauthorised and possibly targeting UK consumers. That warning was later removed from the public list — though investor concerns continued.

The removal of a firm from the FCA warning list does not necessarily mean concerns have been resolved, and some commentators have called for clearer public signals when investigations continue behind the scenes.

Hunter Jones also features in a separate strand of FCA enforcement. On 25 March 2026, the High Court ordered Equity for Growth (Securities) Limited to be wound up after an FCA petition, following a large number of investor complaints about mini bonds issued by unauthorised companies and promoted by appointed representatives including Hunter Jones and Amyma Ltd.

For investors who put money into Hunter Jones or HJ Collection loan note products, the High Court action offers a potential route to recover funds — but how much can be recovered, and when, will depend on the court’s findings and the firm’s asset position.

Key information

• Check the FCA Register at fca.org.uk/register before investing with any firm to confirm it is authorised
• FCA Warning List — fca.org.uk/consumers/warning-list — lets consumers check firms flagged as unauthorised or suspicious
• Report unauthorised firms to the FCA via its consumer helpline: 0800 111 6768