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G & N Car Sales Limited

Current Status: No longer authorised

Reference Number: 300565

Website: www.britanniamotorcompany.co.uk

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfQ2gAAF



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A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons. These may include voluntary cancellation due to changes in the firm's business model or ceasing operations, failure to meet FCA regulatory requirements, non-compliance with rules and regulations, enforcement action due to misconduct, failure to pay fees, or inactivity. To gain more insight into a particular firm's authorisation status, it is best to check the FCA register or contact the FCA directly.

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. Firms must understand their regulatory obligations and ensure all processes, procedures, and controls are in place to comply with applicable rules and regulations.

The UK financial services industry has a history of financial mis-selling, with several high-profile cases involving a range of products and services such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment Mortgages, and Pension Mis-selling. To address this issue, the Financial Conduct Authority (FCA) has taken significant measures, including enforcement actions, compensation schemes, and the introduction of new regulations. Despite this, the risk of mis-selling remains an ongoing concern that requires vigilance from both regulators and the industry.

Consumers who believe they have been mis-sold a financial product or service should first contact the firm responsible to submit a complaint and begin the process of seeking compensation. 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. If the firm is no longer in business or has been declared in default, they can file a claim with the Financial Services Compensation Scheme. It's important to act quickly and consider seeking independent financial or legal advice, as there may be time limits for submitting claims.

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