Address
4.40E+12
4Front Finance Ltd
Current Status: No longer authorised
Reference Number: 301105
Website: www.4front-finance.co.uk
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfQ3JAAV
A firm with the status "No longer authorised" may have had its authorisation removed by the Financial Conduct Authority (FCA) for a variety of reasons. These can include voluntary cancellation due to changes in the firm's business model, ceasing operations, or merging with another firm; failure to meet regulatory requirements, such as capital adequacy, risk management, or governance standards; non-compliance with FCA rules and regulations due to a specific incident or a pattern of misconduct; enforcement action taken against the firm for breaches of regulatory requirements or misconduct; failure to pay required FCA fees; or inactivity for a certain period. It's important to check the FCA register or contact the FCA directly for more information about a specific firm's authorisation status and reasons for any changes.
Such measures may help to identify potential areas of risk and ensure that firms are compliant with applicable laws and regulations.
The Financial Conduct Authority (FCA) has taken important measures to tackle the issue of mis-selling in the UK financial services industry, which has been highlighted by several high-profile cases involving various products and services. Examples of such mis-selling include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages and pension products. Financial organisations have had to pay out billions of pounds in compensation to affected consumers and businesses. In order to ensure fair treatment and protect consumers from mis-selling, it is essential that robust regulatory frameworks are in place, and that the FCA continues to monitor the industry closely. New regulations have been implemented to improve disclosure and transparency, and the FCA has taken enforcement action where necessary. However, the risk of mis-selling still remains, and vigilance is required from both the regulator and the industry.
Those who believe they may have been mis-sold a financial product or service in the UK should take the following steps: 1. Contact the firm that sold the product or service and file a formal complaint, providing all relevant details and evidence of mis-selling. 2. If the firm rejects the complaint or the consumer is not satisfied with the response, they can escalate the issue to the Financial Ombudsman Service. The FOS will review the case, consider both sides of the argument, and make a decision that is legally binding on the firm. 3. If the firm responsible for the mis-selling is no longer in business or has been declared in default, consumers can file a claim with the Financial Services Compensation Scheme. 4. Seek independent financial or legal advice, especially if the claim is complex or involves a large sum of money. 5. Act promptly, as there may be time limits for submitting claims. Remember that these steps are general guidelines and specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved.