Address
4.40E+12
Click Financial Ltd
Current Status: No longer authorised
Reference Number: 311877
Website: www.clickfinancial.co.uk
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfQN5AAN
A firm that has had its authorisation status changed to "No longer authorised" by the Financial Conduct Authority (FCA) may have had its authorisation removed for one or more 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 is important to check the FCA register or contact the FCA directly for more information about a specific firm's authorisation status and the reasons for any changes.
Common 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 crimes, data protection breaches, and inadequate capital or liquidity. To ensure compliance, firms should provide their employees with the necessary training and support, implement and follow appropriate systems, controls, and procedures, and identify, manage, and disclose conflicts of interest. Additionally, firms should take necessary steps to prevent and detect financial crimes, properly safeguard data, and maintain the required level of capital and liquidity.
The UK financial services industry has a history of financial mis-selling, with several high-profile cases involving Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension products. The resulting compensation paid to affected consumers and businesses has exceeded £38 billion. To address this issue, the Financial Conduct Authority (FCA) has taken various steps, including enforcement actions, compensation schemes, and the introduction of new regulations. Despite these efforts, the risk of mis-selling remains an ongoing concern that requires vigilance from both regulators and the industry.
Consumers who have been mis-sold financial products or services in the UK may be eligible to claim compensation and should take the following steps: contact the firm responsible for the mis-selling, file a formal complaint, and if necessary, escalate the issue to the Financial Ombudsman Service. If the firm is no longer in business or has been declared in default, they can file a claim with the Financial Services Compensation Scheme. It is important to act quickly and seek independent financial or legal advice if needed.