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Freedom Car Credit Limited

Current Status: No longer authorised

Reference Number: 466485

Website: www.freedomcarcredit.co.uk

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000Mfk33AAB



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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 FCA rules and regulations, enforcement action, failure to pay fees, or inactivity. It is important to consult the FCA register or contact the FCA for more details about the specific firm's authorisation status and the reasons for any changes.

Such measures can involve developing and enforcing appropriate policies and procedures, providing adequate training and support to staff, implementing and monitoring internal control systems, and performing regular reviews and audits to identify potential risks and gaps. Additionally, firms should ensure they have adequate capital and liquidity to support their operations, as well as robust systems to protect clients and data, prevent financial crime, and manage conflicts of interest. By proactively managing their compliance obligations, firms can help to ensure the integrity of the financial markets and protect the interests of their clients.

The UK financial services industry has seen various cases of financial mis-selling, including Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. These have resulted in billions of pounds in compensation being paid to affected consumers. The Financial Conduct Authority (FCA) has responded to these issues with enforcement actions, compensation schemes, and new regulations to ensure greater disclosure and transparency. However, the risk of mis-selling remains an ongoing concern that requires vigilance from both regulators and the industry.

Those who have been mis-sold financial products or services in the UK may be entitled to compensation, and the process typically involves contacting the firm responsible, escalating the issue to the Financial Ombudsman Service if necessary, and filing a claim with the Financial Services Compensation Scheme if the firm is not able to meet the claim. It's important to act quickly and seek professional advice if necessary, as there may be time limits for submitting claims.

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