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Anson Bailey Ltd

Current Status: No longer authorised

Reference Number: 306722

Website: www.ansonbailey.com

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfVFFAA3



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A firm with the status "No longer authorised" may have had its authorisation removed due to voluntary cancellation, 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 for more information about the specific firm's authorisation status and the reasons for any changes.

This can be achieved through training and awareness programs, the development of systems and controls, the adoption of policies and procedures, the management of conflicts of interest, and the provision of adequate resources and support.

In the UK, financial mis-selling has been a persistent problem in the financial services sector, with a number of high-profile cases involving a variety of products and services. This includes Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages and pension mis-selling. The resulting compensation costs have been significant, with some estimates exceeding £38 billion. Recognizing the need for better protection for consumers, the Financial Conduct Authority (FCA) has taken action to address the issue, including enforcement and compensation schemes, as well as introducing new regulations to enhance disclosure and transparency. Nonetheless, the risk of mis-selling is far from eliminated and continued vigilance is necessary from both regulators and financial institutions.

Those seeking to make a claim for financial mis-selling should contact the firm in question or the relevant Ombudsman or FSCS for additional information. Consumers in the UK who have been mis-sold financial products or services may be eligible to claim compensation. The process typically involves the following steps: 1. Contact the firm: File a formal complaint with the firm that sold the financial product or service and provide all relevant details and evidence of mis-selling. The firm is obligated to investigate and respond to the complaint, typically within eight weeks. 2. Financial Ombudsman Service (FOS): Escalate the issue to the Financial Ombudsman Service if the firm rejects the complaint or the consumer is not satisfied with the response. The FOS is an independent body that resolves disputes between consumers and financial services providers. Their service is free, and their decisions are legally binding on the firm. 3. Financial Services Compensation Scheme (FSCS): File a claim with the Financial Services Compensation Scheme if the firm responsible for the mis-selling is no longer in business or has been declared in default. The FSCS is a statutory compensation fund that provides compensation to consumers when authorized financial services firms fail or are unable to meet claims. It is essential to act promptly when seeking compensation for mis-selling, as there may be time limits for submitting claims. Additionally, consumers should consider seeking professional financial or legal advice, especially if the claim is complex or involves a large sum of money. Note that specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved. Those seeking to make a claim for financial mis-selling should contact the firm in question or the relevant Ombudsman or FSCS for more information.

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