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Fleming Asset Management Limited

Current Status: No longer authorised

Reference Number: 183113

Website: www.fleming-asset.co.uk

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfHVlAAN



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A firm with the status "No longer authorised" may have had its authorisation removed due to any of the following: voluntary cancellation, failure to meet regulatory requirements, non-compliance with rules and regulations, enforcement action, failure to pay fees, or inactivity. To get more information about a firm's authorisation status and reasons for any changes, it is important to check the FCA register or contact the FCA directly.

Non-compliance with rules and regulations can be caused by a variety of factors, such as inadequate internal systems and controls, ineffective 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. To prevent such instances, firms should prioritize establishing a strong compliance culture, implementing effective governance structures, and having ongoing monitoring and reporting systems in place.

The UK financial services industry has seen several high-profile cases of financial mis-selling involving various products and services, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages and pension mis-selling. The resulting compensation payments, such as the £38 billion paid to consumers affected by PPI, have demonstrated the need for adequate regulatory frameworks and oversight from the Financial Conduct Authority (FCA) to protect consumers. To address the issue of mis-selling, the FCA has employed enforcement actions, compensation schemes and new regulations for improved disclosure and transparency. Despite these efforts, mis-selling remains a risk and requires continued vigilance from both regulators and the industry.

If you believe you have been mis-sold a financial product or service, it's important to understand your rights and take appropriate action. If you have been mis-sold a financial product or service in the UK, the process for claiming compensation involves contacting the firm that sold it and filing a formal complaint. If the firm rejects the complaint or you are unsatisfied with the response, you can escalate the issue to the Financial Ombudsman Service (FOS) for an independent review. If the firm is no longer in business or has been declared in default, you can file a claim with the Financial Services Compensation Scheme (FSCS). It's important to act promptly and consider independent advice when seeking compensation, as there may be time limits and criteria that vary depending on the type of financial product or service involved.

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