Address
Network House
5 Scott Drive
Altrincham
Cheshire
WA15 8AB
W A 1 5 8 A B
UNITED KINGDOM
Contact Centre Financial Services Ltd
Current Status: No longer authorised
Reference Number: 402259
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfWJ7AAN
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 is important to check the FCA register or contact the FCA directly for more information regarding the firm's specific authorisation status and the reasons for any changes.
Several possible causes of non-compliance can 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. Therefore, it is essential that firms implement strong internal protocols and procedures to ensure compliance with all applicable rules and regulations.
The Financial Conduct Authority (FCA) has taken a strong stance against financial mis-selling, taking action against firms and introducing new regulations to ensure transparency and disclosure. However, mis-selling continues to be an issue in the UK, with high-profile cases involving Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension products. These cases have shown the need for robust regulatory frameworks and ongoing oversight to protect consumers and promote fair treatment in the financial services sector. To help mitigate the risk of mis-selling, the FCA has provided compensation schemes and taken enforcement actions to stop firms from engaging in this practice. Despite these measures, vigilance is still required to ensure that consumers are protected and that mis-selling is addressed in a timely manner.
Consumers in the UK who have been mis-sold financial products or services may be eligible to claim compensation. In most cases, the process involves contacting the firm that sold the product or service, filing a formal complaint and providing evidence of mis-selling, and then escalating the issue to the Financial Ombudsman Service (FOS) if the firm rejects the complaint or the consumer is not satisfied with the response. The FOS is an independent body that will review the case and make a decision, which is legally binding on the firm. If the firm responsible for the mis-selling 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 important to act promptly, as time limits may apply to submitting claims, and to consider seeking independent financial or legal advice if the claim is complex or involves a large sum of money. Note that while these general steps apply to most cases of financial mis-selling in the UK, specific processes and eligibility criteria may vary depending on the product, service, or circumstances involved.