Address
Firms are required to confirm at least annually that these details are correct.
Current Status: Applied to Cancel
Reference Number: 647948
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000dFPdDAAW
Firms are required to confirm at least annually that these details are correct.
A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons, including voluntary cancellation, failure to meet regulatory requirements, non-compliance with rules and regulations, enforcement action, failure to pay fees, or inactivity. It is important to check the FCA register or contact the FCA directly to find out more information about why a particular firm's authorisation has been revoked.
Reasons for non-compliance can include inadequate systems and controls, poor governance, insufficient staff training, misleading or inaccurate disclosures, conflicts of interest, breaches of conduct rules, inadequate client protections, financial crime, data protection breaches, and inadequate capital or liquidity. Companies should take measures to ensure they understand and comply with applicable regulatory requirements, including providing appropriate training to staff and implementing effective systems and controls.
The UK financial services industry has been impacted by various incidents of financial mis-selling in the past, with notable cases involving Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages and pension products. Substantial compensation has been paid out to affected consumers and businesses, with the total amount exceeding £38 billion. To address the issue of mis-selling, the Financial Conduct Authority (FCA) has implemented a number of measures, such as enforcement actions, compensation schemes and new regulations for improved disclosure and transparency. However, the risk of mis-selling still persists and requires vigilance from both regulators and the industry.
To claim compensation for mis-selling, consumers should contact the firm that sold the product or service, and if necessary, escalate the issue to the Financial Ombudsman Service or the Financial Services Compensation Scheme. It's important to act quickly and seek independent legal or financial advice if needed, as there may be time limits for submitting claims.