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Beech Financial Management Ltd

Current Status: No longer authorised

Reference Number: 303575

Website: www.beechfinance.co.uk

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfStGAAV



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A firm with the status "No longer authorised" may have had its authorisation revoked by the Financial Conduct Authority (FCA) for a variety of reasons. These could 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; enforcement action as a penalty for breaches of regulatory requirements or misconduct; failure to pay required FCA fees; or inactivity. To find out more information about a specific firm's authorisation status and reasons for any changes, it's essential to check the FCA register or contact the FCA directly.

Potential 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. It's also essential to provide employees with guidance and training on regulatory requirements and to ensure that compliance procedures are regularly reviewed and updated.

The UK financial services industry has been plagued by numerous cases of financial mis-selling in the past, with some of the most prominent examples being Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. This has resulted in billions of pounds in compensation being paid to affected consumers and businesses. The Financial Conduct Authority (FCA) has taken steps to address mis-selling, such as enforcing actions, launching compensation schemes, and introducing new regulations to increase transparency and disclosure. Despite these measures, the risk of mis-selling continues to be a major issue and requires vigilant oversight from both the regulator and the industry.

For this reason, consumers who believe they have been mis-sold should contact the firm responsible for the sale and then, if necessary, the FOS or FSCS for advice on the specific steps to take to seek compensation.

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