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Colin J Turner Investment Management

Current Status: No longer authorised

Reference Number: 131185

Website: Not Listed

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfFXlAAN


175 Chorley New Road
B L 1 4 Q Z


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A firm with the status "No longer authorised" may have had its authorisation removed by the Financial Conduct Authority (FCA) 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. To confirm the specific reasons for authorisation changes, it is necessary to consult the FCA register or contact the FCA directly.

This can involve developing comprehensive policies and procedures, providing adequate training and guidance to staff, and putting in place systems to identify, manage, and mitigate potential risks. Additionally, firms should ensure that their disclosures are accurate and transparent, that conflicts of interest are adequately addressed, and that they have appropriate measures in place to protect clients and detect financial crime. Finally, firms must ensure that they have sufficient capital and liquidity to support their operations and comply with regulatory requirements.

The Financial Conduct Authority (FCA) has taken significant steps to address financial mis-selling in the UK, with enforcement actions, compensation schemes, and new regulations to improve disclosure and transparency. Despite this, the issue of mis-selling still remains a serious concern in the UK financial services industry. Examples of mis-selling include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages and pension mis-selling. These have resulted in billions of pounds in compensation to affected consumers and businesses. Moving forward, regulatory frameworks must remain robust to ensure fair treatment and protection of consumers from mis-selling. The FCA must also remain vigilant to ensure that mis-selling does not continue to occur across different financial products and services.

Consumers who have been mis-sold a financial product or service in the UK may be eligible to claim compensation. To begin the process, they should first contact the firm that sold the product or service and file a formal complaint, providing all relevant details and evidence of mis-selling. If the firm rejects the complaint or the consumer is not satisfied with their response, they can escalate the issue to the Financial Ombudsman Service (FOS). The FOS is an independent body that reviews the case and makes a decision, which is legally binding on the firm. In cases where the firm is no longer in business or has been declared in default, consumers can file a claim with the Financial Services Compensation Scheme (FSCS). It's essential to act promptly when seeking compensation, as there may be time limits for submitting claims, and seek independent financial or legal advice if needed. Bear in mind that these general steps and eligibility criteria may vary depending on the financial product or service involved.

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