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Ken Room Asset Management Ltd

Current Status: No longer authorised

Reference Number: 414432

Website: www.kroomam.co.uk

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfWkyAAF



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A firm that is designated as "No longer authorised" by the Financial Conduct Authority (FCA) may have had its authorisation revoked for a number of reasons, including: voluntary cancellation (e.g. due to changes in the firm's business model, ceasing operations, or merging with another firm); failure to meet ongoing regulatory requirements (e.g. capital adequacy, risk management, or governance standards); non-compliance with FCA rules and regulations (e.g. due to a specific incident or a pattern of misconduct); enforcement action taken by the FCA (e.g. for breaches of regulatory requirements or misconduct); failure to pay required FCA fees; or inactivity of the firm over a certain period. To find out more information about a firm's authorisation status and the reasons for any changes, it is essential to check the FCA Register or to contact the FCA directly.

These measures may help firms identify, manage, and mitigate potential compliance risks, enabling them to stay in line with regulatory requirements.

The UK financial services industry has seen several high-profile cases of mis-selling in the past, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. In response, the Financial Conduct Authority (FCA) has taken significant measures to address these issues, including enforcement actions, compensation schemes, and stricter regulations. Despite these efforts, mis-selling remains a concern, and vigilance from both regulators and the industry is needed to ensure consumers are adequately protected and treated fairly.

If you believe you have been mis-sold a financial product or service, the first step is to contact the firm that sold it to you and file a formal complaint. If the firm rejects your complaint or you're not satisfied with their response, you can take your case to the Financial Ombudsman Service. In cases involving firms no longer in business or declared in default, you can file a claim with the Financial Services Compensation Scheme. It's important to act quickly, and you may want to seek independent financial or legal advice.

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