Address
24 Saffron Court
Southfields Business Park
Basildon
Essex
SS15 6SS
S S 1 5 6 S S
UNITED KINGDOM
Net Pig Limited
Current Status: No longer authorised
Reference Number: 565127
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000NMdexAAD
A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons, such as 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 consult the FCA register or contact the FCA directly for more details regarding the specific reasons for the revocation of a firm's authorisation.
Reasons for non-compliance may include inadequate systems and controls, ineffective 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 therefore prioritize compliance and ensure they have the necessary policies, procedures, and resources in place to ensure their activities are in line with applicable regulations.
The Financial Conduct Authority (FCA) has taken significant strides to address financial mis-selling in the UK, particularly with the introduction of new regulations to improve transparency and disclosure. Some of the most well-known cases of mis-selling in the UK include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. These cases alone have seen billions of pounds in redress paid out to affected consumers and businesses. Despite these efforts, mis-selling continues to be a problem in the financial services sector, and requires ongoing vigilance from both regulators and industry members to ensure fair treatment of consumers. In light of this, the FCA continues to take enforcement action and implement compensation schemes to address mis-selling issues.
Consumers who believe they have been mis-sold a financial product or service in the UK may be eligible for compensation and should follow the steps outlined above. They should contact the firm responsible for the mis-selling, then potentially the Financial Ombudsman Service, and finally the Financial Services Compensation Scheme if applicable. It's important to take prompt action, and to seek independent financial or legal advice if needed.