Address
Roseville Rd
Leeds
West Yorkshire
LS8 5QP
L S 8 5 Q P
UNITED KINGDOM
Msf Motor (Yorkshire) Ltd
Current Status: No longer authorised
Reference Number: 312769
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfRRyAAN
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. To find out more about the specific reasons for the revocation of a firm's authorisation, it is important to consult the FCA register or contact the FCA directly.
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 should ensure they have adequate systems in place to identify and address any potential issues and ensure compliance with applicable regulations.
The UK financial services industry has seen a number of high-profile cases of financial mis-selling in the past. Examples include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension products. The mis-selling of these and other products has led to billions of pounds in compensation being paid out to affected consumers and businesses. In response to this, the Financial Conduct Authority (FCA) has taken steps to address mis-selling by implementing enforcement actions, compensation schemes, and new regulations to improve disclosure and transparency. However, the risk of mis-selling still exists and the FCA must remain vigilant in order to protect consumers and ensure fair treatment in the financial services sector.
Consumers who have been mis-sold a financial product or service in the UK may be eligible to claim compensation. The process for seeking compensation typically involves first contacting the firm responsible for the mis-selling, and providing all relevant details and evidence. If the firm rejects the complaint or the consumer is not satisfied with the response, they can then escalate the issue to the Financial Ombudsman Service (FOS), an independent body that resolves disputes between consumers and financial services providers. In cases where the firm is no longer in business or has been declared in default, consumers can file a claim with the Financial Services Compensation Scheme (FSCS). It's important to act promptly in order to submit any claims within the applicable time limits, and to seek independent financial or legal advice if necessary. Specific processes and eligibility criteria may vary depending on the product, service, or circumstances involved.