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GKS Pensions & Investments Ltd

Current Status: No longer authorised

Reference Number: 425290

Website: www.gksifa.co.uk

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000Mfga7AAB



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A firm with the status "No longer authorised" may have had its authorisation removed by the FCA for various reasons, such as voluntary cancellation, failure to meet regulatory requirements, non-compliance with rules and regulations, enforcement action, failure to pay fees, or inactivity. For more information, it's necessary to consult the FCA register or contact the FCA directly.

Possible 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.

The UK Financial Conduct Authority (FCA) has taken extensive measures to mitigate the issue of financial mis-selling in the past, such as enforcement actions, compensation schemes, and the introduction of new regulations. Examples of mis-selling include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment Mortgages, and Pension mis-selling. In some cases, millions of consumers were affected, with billions of pounds of compensation being paid out. These cases demonstrate the need for effective regulation and oversight to protect consumers and promote fair treatment in the financial services sector. Nonetheless, the risk of mis-selling persists and requires continued vigilance from both regulators and the industry.

Consumers who believe they have been mis-sold a financial product or service in the UK should contact the firm that sold the product or service in order to begin the claims process. If the firm rejects the complaint or the consumer is not satisfied with the response, they can then escalate the issue to the Financial Ombudsman Service for review and resolution. In cases where the firm is no longer in business or has been declared in default, consumers can file a claim with the Financial Services Compensation Scheme. It is important to act promptly when seeking compensation, as there may be time limits involved. Seeking independent financial or legal advice may also be beneficial.

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