The UK’s Financial Conduct Authority (FCA) has closed its investigation into Revolution Beauty after three years.
No further action will be taken against the cosmetics company, said Revolution Beauty in an update to the markets.
The financial watchdog first launched its investigation into Revolution Beauty in July 2023 over potential misconduct related to the period between July 2021 and September 2022.
The investigation also included Revolution Beauty’s founder Adam Minto and Tom Allsworth, but this aspect of the probe was dropped in November 2024 with no action taken.
“We are pleased to report that the FCA has ceased its investigation into Revolution Beauty Group and that no action will be taken against the company or its founders,” said Iain McDonald, Chairman of Revolution Beauty.
“The company has cooperated fully with the FCA for the last three years, and has taken on board any comments with a constructive spirit implementing a wider range of governance and best practice.
“It is fitting to receive this news from the FCA at a time when Tom and Adam are back involved in the business and have reinvigorated it with a clear strategy.
“The early signs that this strategy is working are very encouraging, and the future is much brighter for the Revolution brand.”