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Global Finance Services Ltd

Current Status: No longer authorised

Reference Number: 313975

Website: www.gfsuk.com

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfShnAAF



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A firm whose status is "No longer authorised" may have had its authorisation revoked due to voluntary cancellation, failure to meet ongoing regulatory requirements, non-compliance with FCA rules and regulations, enforcement action, failure to pay fees, or inactivity. To determine the exact reason for the revocation of authorisation, it is important to check the FCA register or contact the FCA directly.

Such measures will help ensure that firms are in full compliance with all applicable laws and regulations. Non-compliance with rules and regulations can be caused by a variety of factors, such as inadequate systems and controls, ineffective corporate governance, insufficient staff training, misleading or inaccurate disclosures, conflicts of interest, breaches of conduct rules, inadequate client protection measures, financial crime, data protection breaches, or inadequate capital or liquidity. To prevent such situations from occurring, firms should prioritize developing a robust compliance culture, implementing effective governance structures, and maintaining comprehensive monitoring and reporting systems. These measures will help ensure that firms are compliant with all applicable laws and regulations.

The UK financial services industry has a history of financial mis-selling, with several high-profile cases involving 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 out to affected customers. The Financial Conduct Authority (FCA) has taken numerous steps to tackle mis-selling, including enforcement actions, compensation schemes, and new regulations to enhance disclosure and transparency. However, risks of mis-selling persist, necessitating constant vigilance from both regulators and the industry.

If you believe you have been mis-sold a financial product or service, it is important to take immediate action and contact the firm responsible. If they reject your claim, you can escalate the issue to the Financial Ombudsman Service. In cases where the firm is no longer in business or has been declared in default, you can pursue a claim with the Financial Services Compensation Scheme. For more complex cases, it is recommended that you seek independent financial or legal advice.

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