Address
4.41E+12
Enable Finance Ltd
Current Status: No longer authorised
Reference Number: 301580
Website: www.enablefinance.com
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfR2IAAV
A firm with the status "No longer authorised" may have had its authorisation revoked for a variety of reasons. These could include voluntary cancellation by the firm due to changes in its business model, ceasing operations, or merging with another firm; failure to meet ongoing regulatory requirements such as capital adequacy, risk management, or governance standards; non-compliance with FCA rules and regulations; enforcement action taken by the FCA for breaches of regulatory requirements or misconduct; failure to pay the required FCA fees; or inactivity leading to the FCA cancelling its authorisation. 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.
Some of the common causes for 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 crime, data protection breaches, and inadequate capital or liquidity. Companies must take the necessary steps to ensure their policies, procedures, and practices are compliant with applicable laws and regulations.
In the United Kingdom, financial mis-selling has been a prevalent issue in the past, with numerous instances of consumers and businesses being sold unsuitable or unnecessary products. Examples of such cases include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages and Pension mis-selling. Consequently, the Financial Conduct Authority (FCA) has taken decisive action to combat this issue, through enforcement measures, compensation schemes and the introduction of new regulations to enhance disclosure and transparency. Despite these efforts, there is still a risk of mis-selling across various financial products and services, and it is essential that the FCA continues to monitor the industry and take necessary action to protect consumers.
Consumers who believe they have been mis-sold a financial product or service should contact the firm in question and follow the steps outlined above in order to seek compensation.