Address
First Floor
4 Lords Court
Cricketers Way
Basildon
Essex
SS13 1SS
S S 1 3 1 S S
UNITED KINGDOM
KBI Insurance Brokers Limited
Current Status: No longer authorised
Reference Number: 477482
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000Mfk48AAB
A firm which has been given the status "No longer authorised" may have had its authorisation revoked by the Financial Conduct Authority (FCA) due to a variety of reasons. These may include voluntary cancellation by the firm, failure to meet ongoing regulatory requirements, non-compliance with FCA rules and regulations, enforcement action taken by the FCA, failure to pay fees, or inactivity. It is important to consult the FCA register or contact the FCA directly to obtain more information regarding the specific firm and the reasons for the change in authorisation status.
Various reasons for non-compliance can 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 regulatory compliance, firms must take proactive steps to identify and address any potential risks.
The UK financial services industry has seen 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. As a result of these scandals, consumers have been compensated with billions of pounds in redress. In light of these issues, the Financial Conduct Authority (FCA) has taken decisive action to protect consumers from mis-selling, including enforcement actions, compensation schemes, and new regulations to improve disclosure and transparency. However, the risk of mis-selling remains an ongoing concern that requires both regulators and the industry to remain vigilant.
If you believe you have been mis-sold a financial product or service, the best course of action is to contact the firm responsible and, if necessary, seek independent financial or legal advice to determine the best way to proceed.