Address
433 Chester Road
Woodford
Stockport
Cheshire
SK7 1QP
S K 7 1 Q P
UNITED KINGDOM
Mainwaring Francis & Associates (Bramhall) Limited
Current Status: No longer authorised
Reference Number: 120883
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfEvpAAF
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 specific firm's authorisation status and the reasons behind any changes.
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. Firms must ensure they implement appropriate measures to identify, monitor, and address any potential compliance issues.
The UK financial services industry has seen a number of high-profile cases of financial mis-selling, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. These cases have resulted in billions of pounds in compensation being paid to affected consumers. To protect consumers against mis-selling, the Financial Conduct Authority (FCA) has implemented enforcement actions, compensation schemes, and new regulations to improve disclosure and transparency. Despite these efforts, the risk of mis-selling still exists and requires vigilance from both regulators and the industry.
Consumers who have been mis-sold financial products or services in the UK may be eligible to seek compensation. The process typically involves contacting the firm responsible for the mis-selling, escalating the issue to the Financial Ombudsman Service, and in some cases filing a claim with the Financial Services Compensation Scheme. It is important to act promptly, as there may be time limits for submitting claims, and to consider seeking independent financial or legal advice. Note that the specifics of the process and eligibility criteria may vary depending on the product, service, or circumstances.