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Gainsole Limited

Current Status: No longer authorised

Reference Number: 307618

Website: www.whickhammotorco.co.uk/whickhammo1.htm

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfVWXAA3


Whickham Motor Co
Bank Top Garage
Whickham Bank
Newcastle upon Tyne
Tyne and Wear
NE16 4AT
N E 1 6 4 A T


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A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons, including voluntary cancellation; failure to meet regulatory requirements; non-compliance with rules and regulations; enforcement action; failure to pay fees; and inactivity. It is important to consult the FCA register or contact the FCA directly for more information about a particular firm's authorisation status and the causes of any changes.

Common causes of 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. To ensure compliance, firms must have a clear understanding of their obligations and develop comprehensive processes and procedures to meet them.

The UK financial services industry has been marred by numerous cases of financial mis-selling in the past, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. These mis-selling scandals have resulted in billions of pounds in compensation paid to affected consumers. To address this issue, the Financial Conduct Authority (FCA) has taken steps to enforce regulations and improve disclosure and transparency. However, the risk of mis-selling persists and requires vigilant oversight of both regulators and the industry.

If you believe you've been mis-sold a financial product or service, it's important to understand your rights and the available options for seeking compensation. If you have been mis-sold a financial product or service in the UK, you may be eligible to seek compensation. The process typically involves contacting the firm that sold the product or service, filing a formal complaint, and potentially escalating the issue to the Financial Ombudsman Service (FOS) or Financial Services Compensation Scheme (FSCS). It's important to act promptly and seek independent financial or legal advice if necessary. Depending on the product, service, and circumstances, the process and eligibility criteria may vary.

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