Address
Sumner Place
1 Roy Road
Northwood
Middlesex
HA6 1EQ
H A 6 1 E Q
UNITED KINGDOM
Albemarle Ross Limited
Current Status: No longer authorised
Reference Number: 425445
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfglxAAB
A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons. These could include voluntary cancellation, failure to meet regulatory requirements, non-compliance with rules and regulations, enforcement action, failure to pay fees, and inactivity. To find out more about a particular firm's authorisation status and the reasons for any changes, it's important to consult the FCA register or contact the FCA directly.
Failure to do so could lead to serious financial, reputational, and legal issues. Non-compliance with rules and regulations can occur for a variety of reasons, including inadequate systems and controls, weak corporate 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. It is essential for firms to foster a culture of compliance, establish effective governance structures, and maintain ongoing monitoring and reporting systems in order to prevent non-compliance and safeguard against potential financial, reputational, and legal risks.
The UK Financial Conduct Authority (FCA) has taken significant steps to address mis-selling in the financial services industry, with enforcement actions, compensation schemes, and the introduction of new regulations to improve disclosure and transparency. Despite these measures, the problem of mis-selling persists and is particularly prevalent with Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension products. These cases have resulted in billions of pounds in compensation paid to affected consumers and businesses. It is clear that there is still a need for robust regulatory frameworks and ongoing oversight in order to protect consumers from mis-selling and ensure fair treatment in the financial services sector. Companies must also take responsibility for their actions and ensure that they are adhering to the industry's standards and regulations.
Consumers who have been mis-sold financial products or services in the UK may be eligible to claim compensation. To ensure the best outcome, they should act promptly and consider seeking independent financial or legal advice. The basic steps for seeking compensation typically involve contacting the firm that sold the product or service, escalating the issue to the Financial Ombudsman Service, and filing a claim with the Financial Services Compensation Scheme if necessary. However, the specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved.