Address
4.40E+12
Prg Powerhouse Limited
Current Status: No longer authorised
Reference Number: 312489
Website: www.goswitchon.com
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfR59AAF
A firm with the status "No longer authorised" may have had its authorisation removed for several reasons, such as voluntary cancellation, failure to meet regulatory requirements, non-compliance with rules and regulations, enforcement action, failure to pay fees, or inactivity. To get more information about a particular firm's authorisation status and why it changed, it is best to check the FCA register or contact the FCA directly.
These measures can help firms ensure that they are adhering to all applicable legal and regulatory requirements, and thus avoiding costly sanctions or reputational damage.
The UK financial services industry has a long history of financial mis-selling, with several high-profile cases involving various financial products and services such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages and pension products. The resulting compensation paid to affected consumers has exceeded £38 billion, demonstrating the need for greater regulation and oversight. The Financial Conduct Authority (FCA) has taken a number of steps to address this issue, including enforcement actions, compensation schemes and new regulations to ensure greater disclosure and transparency. However, the risk of mis-selling remains a concern and requires ongoing vigilance from both the regulators and the industry.
If you believe you have been mis-sold a financial product or service, it's important to take action as soon as possible. Contact the firm that sold you the product or service to file a formal complaint, and if necessary, escalate the issue to the Financial Ombudsman Service or the Financial Services Compensation Scheme. Additionally, you may want to seek independent financial or legal advice if the claim is complex or involves a large sum of money.