Address
Kettering Honda
Northfield Avenue
Kettering
Northamptonshire
NN16 8TB
N N 1 6 8 T B
UNITED KINGDOM
Corby Motor Group Limited
Current Status: No longer authorised
Reference Number: 309518
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfNzpAAF
A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons. This could include voluntary cancellation due to changes in the firm's business model, ceasing operations, or merging with another firm; failure to meet ongoing regulatory requirements; non-compliance with FCA rules and regulations; enforcement action taken by the FCA; failure to pay the required FCA fees; or inactivity. To find out more about a specific firm's authorisation status and reasons for any changes, it's important to check the FCA register or contact the FCA directly.
Reasons for non-compliance may 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, or inadequate capital or liquidity. It is essential for firms to have the necessary systems, controls, and procedures in place to ensure compliance with applicable rules and regulations.
The Financial Conduct Authority (FCA) has taken great strides to rectify financial mis-selling in the UK, with enforcement actions, compensation schemes, and new regulations. Unfortunately, the risk of mis-selling continues to be a major issue in the financial services industry, as evidenced by the numerous high-profile cases of mis-selling in products such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension products. Consumers have lost out on billions of pounds due to unsuitable advice or products, and the FCA must remain vigilant to ensure that such cases do not occur in the future. The continued implementation of robust regulatory frameworks and oversight will be essential to protect consumers from mis-selling and to ensure fair treatment in the financial services sector.
Consumers who have been mis-sold a financial product or service in the UK should contact the firm responsible for the mis-selling and file a formal complaint. If the firm rejects the complaint or the consumer is not satisfied with the response, they can escalate the issue to the Financial Ombudsman Service, an independent body that resolves disputes between consumers and financial services providers. In cases where the firm is no longer in business or has been declared in default, the consumer can file a claim with the Financial Services Compensation Scheme, a statutory compensation fund. It's important to act promptly and consider seeking independent financial or legal advice. Specific processes and criteria may vary depending on the product, service, or circumstances involved.