Address
76 New Cavendish Street
London
W1G 9TB
W 1 G 9 T B
UNITED KINGDOM
Davis Druckman Financial Services Limited
Current Status: No longer authorised
Reference Number: 144227
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfFpsAAF
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 the reasons behind any changes.
Reasons for 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. Companies must ensure they have the necessary procedures in place to effectively identify and address any risks or violations.
In the UK, financial mis-selling has been a major issue in the financial services industry, with several high-profile cases including Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. This has resulted in billions of pounds in compensation being paid to affected consumers and businesses. The Financial Conduct Authority (FCA) has taken active measures to address such issues, including enforcement actions, compensation schemes, and the implementation of regulations to increase disclosure and transparency. Nonetheless, the risk of mis-selling persists, and vigilance is required from both regulators and the industry to ensure fair treatment of consumers.
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, the consumer can escalate the issue to the Financial Ombudsman Service, which is 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. It's important to act promptly and consider seeking independent financial or legal advice to ensure the best outcome.