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Heaney Finance

Current Status: Revoked

Reference Number: 301594

Website: www.heaneyfinance.com

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfR2RAAV


46 Longstone Street
County Antrim
BT28 1TP
B T 2 8 1 T P


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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, or inactivity. It is important to check the FCA register or contact the FCA directly for more information about a particular firm's authorisation status and the reason for any changes.

This includes providing proper training to staff, developing internal systems to identify and manage conflicts of interest, and ensuring compliance with disclosure, conduct, and client protection requirements. Additionally, firms should have adequate controls and procedures in place to detect and prevent financial crime and ensure data protection compliance. Lastly, firms must maintain adequate capital and liquidity to support their operations and manage any risks that arise.

The UK financial services industry has seen numerous high-profile cases of financial mis-selling in the past, such as the Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages, and Pension mis-selling scandals. These cases have resulted in billions of pounds in compensation being paid to affected consumers, and have highlighted the need for robust regulatory frameworks and oversight from the Financial Conduct Authority (FCA). The FCA has taken action to address these issues, including enforcing new regulations and compensation schemes. However, the risk of mis-selling still exists and requires ongoing vigilance from both regulators and the industry. It is important to note that the extent of mis-selling may vary across different financial products and services.

Consumers who have been mis-sold financial products or services in the UK may be eligible to claim compensation. To do so, they should first contact the firm that sold the product or service to submit a formal complaint, providing all relevant details and evidence of mis-selling. 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, an independent body that resolves disputes between consumers and financial services providers. Their service is free for consumers, and their decisions are legally binding on the firm. In cases where the firm responsible for the mis-selling is no longer in business or has been declared in default, consumers can file a claim with the Financial Services Compensation Scheme. It's important to act promptly when seeking compensation, as there may be time limits for submitting claims. Additionally, consumers should consider seeking independent financial or legal advice, especially if the claim is complex or involves a large sum of money.

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