Address
4.40E+12
Breck Financial Consultants Ltd
Current Status: No longer authorised
Reference Number: 131259
Website: www.breck.co.uk
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfFY5AAN
A firm with the status "No longer authorised" may have had its authorisation removed for any of the following reasons: voluntary cancellation, failure to meet regulatory requirements, non-compliance with rules and regulations, enforcement action, failure to pay fees, or inactivity. It's essential to consult the FCA register or contact the FCA directly for more information about the specific firm's authorisation status and why it may have changed.
These measures can help firms identify potential violations, take corrective action, and protect against financial, reputational, and legal risks.
The UK financial services industry has been plagued by financial mis-selling in the past, with several high-profile cases affecting various products and services. Examples of such mis-selling include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages and Pension mis-selling. These cases have resulted in billions of pounds in redress paid to affected consumers and businesses. The Financial Conduct Authority (FCA) is taking action to protect consumers from mis-selling, through enforcement actions, compensation schemes and the introduction of new regulations for improved disclosure and transparency. Despite these efforts, the risk of mis-selling persists and requires vigilance from both regulators and the industry.
Consumers who have been mis-sold a financial product or service in the UK may be eligible to claim compensation. The process typically involves the following steps: getting in touch with the firm that sold the product or service, escalating the issue to the Financial Ombudsman Service (FOS) if necessary, and filing a claim with the Financial Services Compensation Scheme (FSCS) if the firm is no longer in business or has been declared in default. It's important to act quickly when seeking compensation, and to seek legal or financial advice if needed. Note that the exact process and eligibility criteria may vary depending on the product or service involved.