The UK Financial Conduct Authority has begun High Court proceedings against Osborne Baldwin Limited, trading as Hunter Jones and Hunter Jones Group, alleging it carried out regulated financial services activity without authorisation. The regulator is asking the court to stop the firm from conducting regulated activity and to require money to be returned to investors. The proceedings remain at an early stage, no trial date has been set, and the High Court has not determined the allegations.
The company claims to have raised more than £300 million for property investments and built an investor network spanning more than 60 countries, although those figures are unverified. Osborne Baldwin was incorporated in October 2013 and is controlled by founder Reece Mennie. The dispute centres on property-backed loan notes, where arranging investments or communicating certain financial promotions can fall inside the FCA's perimeter depending on how the activity is conducted.
Hunter Jones previously operated as an appointed representative of Equity for Growth (Securities) Limited, known as EFG, between May 2018 and April 2020. EFG was later wound up by the High Court in March 2026 after the FCA concluded it was insolvent, and the Financial Services Compensation Scheme declared it in default. The FCA had also warned in November 2025 that Osborne Baldwin, Hunter Jones Group and HJ Collection might be providing or promoting financial services without permission, but that warning was later withdrawn after the firms challenged it.
The Financial Ombudsman previously found Hunter Jones had carried out regulated arranging activity in relation to Dolphin loan notes, involving an investor who lost £30,000 after the German property business collapsed. The Ombudsman identified due diligence and promotion problems. The FCA has not yet disclosed which products or transactions underpin the new claim, how much investor money it seeks to recover, or how many customers may be affected.
The FCA is highlighting the risks of dealing with unauthorised firms and urging consumers to verify authorisation through its Firm Checker tool. For now, the regulator has moved beyond warnings and is asking the High Court to halt the alleged activity and order repayments, though the allegations remain unproven unless the court rules on them.
