Address
23 Clarence Street
Staines
Middlesex
TW18 4SU
T W 1 8 4 S U
UNITED KINGDOM
Surrey Independent Financial Services Ltd
Current Status: No longer authorised
Reference Number: 401467
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfVdyAAF
A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons. These can include voluntary cancellation, such as due to changes in the firm's business model, ceasing operations, or merging with another firm; 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 regarding the specific firm's authorisation status and the reasons for any changes.
Possible causes of non-compliance 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.
The UK financial services industry has been plagued by financial mis-selling in the past, with several high-profile cases involving various financial products and services. Examples of such mis-selling include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages and Pension mis-selling. The total compensation paid to affected consumers exceeded £38 billion, and businesses have been compensated with billions of pounds in redress. The Financial Conduct Authority (FCA) has taken measures to address mis-selling issues, such as enforcement actions, compensation schemes, and the introduction of new regulations to improve disclosure and transparency. However, the risk of mis-selling remains an ongoing concern that requires vigilance from both regulators and the industry.
If you have been mis-sold a financial product or service in the UK, contact the firm responsible for the mis-selling and file a formal complaint. If your complaint is rejected or you are not satisfied with the response, you can escalate the issue to the Financial Ombudsman Service. If the firm is no longer in business or has been declared in default, you may be able to claim compensation from the Financial Services Compensation Scheme. It is important to act quickly, and you may wish to seek independent financial or legal advice.