ITI Capital customers face wait as broker enters special administration
Investors with the FCA-regulated brokerage will be contacted within eight weeks about how their money and assets will be returned.
Broker placed into special administration
ITI Capital Ltd, a brokerage that helped customers invest in shares and bonds, entered special administration on 25 September 2026. Duncan Perring and David Soden, both of Teneo Financial Advisory Ltd, have been appointed as special administrators to manage the firm’s affairs.
The firm had already agreed, on 10 August 2025, to stop carrying out most regulated activity in the UK and overseas and to stop taking on any new client money or custody assets. It remains authorised and regulated by the FCA, which says it will work with the special administrators to try to secure the best outcome for customers.
What happens to client money and assets
Clients of ITI Capital will be written to within eight weeks of the administration starting. That letter will set out how the special administrators intend to return client money and assets, and how customers can make a claim.
Before any money or assets are returned, the special administrators must gather information from creditors and clients about sums owed to or by the firm, then assess what ITI Capital is holding. Costs of distributing that money and those assets, including the special administrators’ own fees, may be deducted from client funds if there is not enough money to cover them.
FSCS cover up to £85,000
Where a shortfall arises in the client money or assets ITI Capital was meant to safeguard, the Financial Services Compensation Scheme may step in. For eligible clients, the FSCS can cover losses and the cost of returning funds, up to £85,000. The special administrators will work with the FSCS to determine which clients and businesses qualify and will provide further updates in due course.
Customers who had lodged a complaint with ITI Capital before the administration are advised to contact the special administrators directly, who can explain how existing complaints and claims will be handled.
Warning over claims firms and scams
The FCA has said customers should be wary of claims management companies or law firms approaching them about reclaiming assets from ITI Capital. It says there is generally no benefit for most customers in involving a third party, since such firms typically charge a fee that reduces the amount eventually returned. Anyone considering using one is urged to discuss it first with the special administrators.
The regulator has also flagged that a “cloned” version of the firm is being used by scammers, with individuals falsely claiming to represent ITI Capital. Customers who receive cold calls from anyone claiming to be from ITI Capital, Teneo or the FCA are advised to end the call and ring back using verified numbers, and to check any firm or individual they deal with using the FCA’s Firm Checker.
What happens next
ITI Capital clients should expect direct contact from the special administrators within eight weeks, explaining the process for recovering money and assets. Questions in the meantime can be directed to the special administrators on 0113 396 0127, or to the FCA’s Consumer Helpline. The FCA says it will continue to oversee developments as the special administration proceeds.