Address
4.40E+12
Anglo European Credit Group Limited
Current Status: No longer authorised
Reference Number: 310748
Website: www.auf.co.uk
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfP3xAAF
A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons. This could include voluntary cancellation due to changes in the firm's business model or ceasing operations, failure to meet ongoing regulatory requirements, non-compliance with FCA rules and regulations, enforcement action taken by the FCA, failure to pay required FCA fees, or inactivity. It is 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 will help ensure firms are meeting their legal and regulatory obligations and protecting their reputation. Non-compliance with rules and regulations can arise due to a variety of reasons such as 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. In order to address these issues and ensure compliance, firms must establish a strong culture of compliance, implement effective governance structures, and maintain ongoing monitoring and reporting systems. Doing so will help them fulfill their legal and regulatory responsibilities while protecting their reputation.
The UK financial services industry has seen numerous cases of financial mis-selling in the past, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension products. This has resulted in billions of pounds worth of redress payments to affected consumers and businesses. The Financial Conduct Authority (FCA) has taken a number of steps to address the issue, including enforcing regulations and introducing new measures to improve disclosure and transparency. Nevertheless, the risk of mis-selling remains a concern for the industry and regulators alike, and ongoing oversight is essential to ensure consumers are protected from any potential harm.
If you think you have been mis-sold a financial product or service, you should contact the firm responsible and begin the process of seeking compensation. If the firm rejects your complaint or you are not satisfied with the response, you can escalate the issue to the Financial Ombudsman Service. In the event that the firm is no longer in business or has been declared in default, you can submit a claim to the Financial Services Compensation Scheme. Remember to act promptly and seek professional advice if necessary.