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K B Rollitt & Co (Newark) Limited

Current Status: No longer authorised

Reference Number: 440187

Website: Not Listed

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfaBZAAZ


Independent House
33 Appleton Gate
NG24 1JR
N G 2 4 1 J R


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A firm with the status "No longer authorised" may have had its authorisation removed due to 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 consult the FCA register or contact the FCA directly to gain more specific information about a firm's authorisation status and the reasons for any changes.

This can include providing adequate staff training, ensuring accurate and timely disclosures, managing conflicts of interest, adhering to conduct rules, protecting clients, preventing financial crime, and complying with data protection and prudential requirements.

In recent years, financial mis-selling has been a major problem in the UK's financial services industry. Notable cases include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment Mortgages, and Pension Mis-selling. These cases have resulted in billions of pounds of compensation for affected consumers and businesses. In order to ensure fair treatment for all consumers, the Financial Conduct Authority (FCA) has taken several steps to address mis-selling issues. This includes enforcement actions, compensation schemes, and the introduction of new regulations to improve disclosure and transparency. Despite these efforts, the risk of mis-selling remains an ongoing concern that requires continued vigilance from both regulators and the industry.

Consumers who have been mis-sold a financial product or service in the UK may be able to claim compensation by following these steps: 1. Contact the firm responsible for the mis-selling and file a formal complaint with relevant details and evidence of mis-selling. 2. 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 (FOS). The FOS is an independent body that reviews the case, considers both sides of the argument, and makes a decision. The service is free for consumers and their decisions are legally binding on the firm. 3. If the firm is no longer in business or has been declared in default, consumers can file a claim with the Financial Services Compensation Scheme (FSCS). The FSCS is a statutory compensation fund that provides compensation to consumers when authorized financial services firms fail or are unable to meet claims. There are limits to the amount of compensation the FSCS can pay, which vary depending on the type of financial product or service involved. It is important to take action quickly when seeking compensation for mis-selling, as there may be time limits for submitting claims. Consumers should also consider seeking independent financial or legal advice, especially when the claim is complex or involves a large sum of money. Note that specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved.

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