In administration 01 December 2020
You might be eligible for compensation
On 7 January 2021, the management of Earthworm Ltd’s approximately 900 Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) customers transferred to SFC Capital Partners Ltd.
The company entered administration on 1 December 2020. The administrator concluded that the most appropriate strategy was to transfer the fund management to an alternative fund manager. This has now taken place.
Some former customers may feel that Earthworm Ltd acted negligently in its management of customer funds. FSCS is now accepting claims from current and former investors who'd like to make a claim regarding Earthworm Ltd’s management of the Earthworm EIS and SEIS funds. Claims to the FSCS can be made via our online portal.
Customers should note that if an FCA-authorised adviser that’s still trading advised you to invest in Earthworm EIS and SEIS funds, you must complain to that adviser first. If the adviser rejects your complaint, you can make a complaint against the adviser with the Financial Ombudsman Service (FOS).
But if your complaint is against an FCA-authorised adviser that’s no longer trading, submit a claim to FSCS against that adviser.
You can check whether your financial adviser has ever been authorised by the FCA by visiting the FCA’s website.
It's likely that we will reject any claims made against Earthworm Ltd if a potential claim against an adviser has not been made first.
But if that has happened, and there are uncompensated losses for which customers believe Earthworm Ltd is responsible, customers can make a claim against Earthworm Ltd.
It’s completely free to make a claim for compensation with FSCS – click the links or the purple ‘Check you can claim’ button to get started.