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And the 2025 winners are: (not the late front runner, Octopus Apollo VCT, that now starts as odds-on favourite for 2026)

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Most consistently useless: (3 years in a row)             QUANTEXA Ltd ------------------------------------------------------------------------ Venture Capital Trust Managers: JOINT WINNERS:            ALBION CAPITAL GROUP llp and GRESHAM HOUSE ASSET MANAGEMENT Ltd Not only for false filings for "their own" VCTs but outright incompetence for investments where they charge for putting one-of-their-own on the Board and then fail to carry out their statutory duties (see Quantexa, Elliptic Enterprises and Preservica as just a few examples of the dogs). Do note that Richard Seewald pops up again as a Director of Elliptic along with the miscreants at Octopus - "pass the parcel" anyone? The one thing that is crystal clear is that no Investment Manager can ever be trusted to be Company Secretary - let alone sole "executive" - of any listed company. As for GH taking fees and subcontracting the work to skim more fees ... all Directo...
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And the front runner is ... OCTOPUS APOLLO VCT and it's incompetent and law breaking directors and managers.

Just look at the 10 year history of lies told about merger shares being issued for cash and the continued failure to rectify and then they appoint Independent Valuers as Auditors and arbiters of valuation disputes. Even the Octopus Titan directors made a half-hearted attempt before the regulators stepped in. They have been warned time and again - perhaps the new and now live formal investigation under the Economic Crime and Corporate Transparency Act will sort them out before the next AGM. .
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It is beginning to look like a one horse race in the "FCA Authorised Investment Management Stakes".......

Albion Capital Group LLP's decades long appalling record for not only its own but all the companies to which it provides investment or company secretarial services - particularly where it secures the right for itself to nominate a fee earning director in companies to which it directs investment of the funds it manages (and for which it thus directly accepts liability for company law compliance failures) - now demonstrates corporate failings numbering in the hundreds - including those which are outright lies and fraud. ....but there is always time for the analysis of all 13 members of the British Venture Capital Trust Association to catch up.... do note Albion is the only one to use and actually misuse Virtual AGMs. Albion's outrageous fraud on the members of the VCTs (aided and abetted by the non-executive VCT Directors) over the Mergers and Prospectus just gets worse and worse by the day. Good job I have an ongoing personal shareholding in the CRWN "C" shares whose h...
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It is that time of the year again. Who is the worst offender of 2025?

  KPMG?     Still haven't filed their 2024 entry for their new JV with the Swiss and took 6 months to even notify a PSC change? And they lie through their teeth in the entries in the Register of Statutory Auditors maintained by ICAEW. Albion VCTs - say no more. The Directors of 2 of them just plain lied about issuing merger shares for cash and all 3 failed to procure compliant Independent Valuers reports. AGM next week might be interesting. tbc
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