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Brian Coates & Co (General) Ltd

Current Status: No longer authorised

Reference Number: 304113

Website: Not Listed

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfSp4AAF


25 West Auckland Road
County Durham
D L 3 9 E L


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A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons, such as 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 consult the FCA register or contact the FCA directly for more information about a specific firm's authorisation status and reasons for any changes.

This can help ensure that firms are aware of applicable requirements, understand their obligations, and take appropriate steps to meet them. Non-compliance with rules and regulations can be caused by a variety of factors, 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. To avoid such issues, firms should put in place robust compliance cultures, effective governance structures, and ongoing monitoring and reporting systems. This will help them remain aware of applicable regulations, understand their obligations, and take the necessary steps to meet them.

The Financial Conduct Authority (FCA) has taken significant steps to address mis-selling in the UK's financial services industry, including enforcement actions, compensation schemes, and new regulations to improve disclosure and transparency. Despite these efforts, the issue of mis-selling remains a persistent problem that requires ongoing vigilance from both regulators and the industry. Examples of financial mis-selling in the past include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages, and Pension mis-selling. The consequences of such mis-selling have in some cases been extremely costly, with consumers and businesses being compensated billions of pounds in redress. It is therefore essential that regulatory frameworks remain robust and effective in order to protect consumers from mis-selling and promote fair treatment in the sector.

If you've been mis-sold a financial product or service in the UK, you may be eligible to seek compensation. To begin the process, contact the firm responsible for the mis-selling and file a formal complaint. If the firm rejects the complaint or you are not satisfied with the response, you can escalate the issue to the Financial Ombudsman Service (FOS). The FOS is an independent body that resolves disputes between consumers and financial services providers. Alternatively, if the firm is no longer in business or has been declared in default, you can file a claim with the Financial Services Compensation Scheme (FSCS). It's important to act promptly, as there may be time limits for submitting claims, and you should consider seeking independent financial or legal advice if the claim is complex. Please note that specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved.

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