Address
4.40E+12
Mortgage Management Ltd
Current Status: No longer authorised
Reference Number: 303313
Website: www.mortgage-management.ltd.uk
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfS51AAF
A firm with the status "No longer authorised" may have had its authorisation removed by the Financial Conduct Authority (FCA) for a variety of reasons. These could include voluntary cancellation due to changes in the firm's business model, ceasing operations, or merging with another firm; failure to meet regulatory requirements such as capital adequacy, risk management, or governance standards; non-compliance with FCA rules and regulations; enforcement action taken against the firm for breaches of regulatory requirements or misconduct; failure to pay the required FCA fees; or inactivity. To find out more information about a specific firm's authorisation status and reasons for any changes, it is important to check the FCA register or contact the FCA directly.
Possible 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.
The UK financial services industry has been plagued by financial mis-selling in the past, with several high-profile cases concerning a variety of financial products and services. Examples include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. To address these issues, the Financial Conduct Authority (FCA) has taken action to enforce regulations, provide compensation to affected consumers and businesses, and introduce new regulations to ensure better disclosure and transparency. Despite these efforts, the risk of mis-selling remains a persistent issue, requiring vigilance from both regulators and industry players.
Consumers who have been mis-sold financial products or services in the UK may be eligible to claim compensation. To do so, they should first contact the firm that sold the product or service and file a formal complaint, providing all relevant details and evidence of mis-selling. 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), an independent body that resolves disputes between consumers and financial services providers. The FOS will review the case, consider both sides of the argument, and make a decision. In cases where the firm responsible for the mis-selling is no longer in business or has been declared in default, consumers can file a claim with the Financial Services Compensation Scheme (FSCS). It is important to act promptly when seeking compensation, as there may be time limits for submitting claims. Additionally, obtaining independent financial or legal advice may be beneficial, especially if the claim is complex or involves a large sum of money.