Address
4.40E+12
Mendip Caravan Centre Ltd
Current Status: No longer authorised
Reference Number: 310670
Website: www.discoverleisure.co.uk
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfOyRAAV
A firm with the status "No longer authorised" may have had its authorisation revoked 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 check the FCA register or contact the FCA directly to find out more details about the firm's authorisation status and the reasons for any changes.
Potential causes of 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. By proactively managing these potential risks, firms can ensure they operate according to relevant laws and regulations and protect the interests of their clients and stakeholders.
In the UK, financial mis-selling has been a major issue in the past, evidenced by several high-profile cases involving a wide range of financial products and services. Those include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages, and Pension mis-selling. Banks have paid billions of pounds in redress to affected consumers and businesses, emphasizing the importance of having robust regulatory frameworks and ongoing oversight by the Financial Conduct Authority (FCA). To address such issues, the FCA has taken strong measures, including enforcement actions, compensation schemes, and new regulations to strengthen disclosure and transparency. Nonetheless, the risk of mis-selling continues to be a concern, requiring vigilance from both the FCA and the industry.
Those seeking compensation for a mis-sold financial product or service should contact the firm responsible for the sale, file a formal complaint, and then escalate the issue to the Financial Ombudsman Service if necessary. If the firm is no longer in business or is declared in default, then consumers can submit a claim to the Financial Services Compensation Scheme. It is advisable to act quickly and seek independent financial or legal advice if needed.