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Optimise Wealth Management Ltd

Current Status: No longer authorised

Reference Number: 812526

Website: Not Listed

Link to FCA: https://register.fca.org.uk/s/firm?id=0010X00004D7lD8QAJ


The contact details below are correct as of 09/07/2022 when this firm’s Authorisation with the FCA and/or PRA was cancelled. If you are trying to contact the firm, please also try looking at other sources such as Companies House.

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A firm with the status "No longer authorised" may have had its authorisation removed for various 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 consult the FCA register or contact the FCA directly to get more details about a particular firm's authorisation status and the reasons for any changes.

This can help identify and mitigate areas of risk, and ensure compliance with applicable laws and regulations.

The UK financial services industry has seen numerous cases of financial mis-selling in recent years, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages, and Pension mis-selling. Such mis-selling has caused consumers to suffer significant financial losses, with billions of pounds being paid in redress. To address this issue, the Financial Conduct Authority (FCA) has taken a number of steps, including enforcement actions, compensation schemes, and new regulations to promote disclosure and transparency. Despite these efforts, mis-selling remains a persistent problem, and further regulatory vigilance is necessary to protect consumers and ensure fair treatment in the sector.

If you believe you have been mis-sold a financial product or service, it's important to contact the firm responsible as soon as possible and follow the appropriate steps to seek compensation. For those who have been mis-sold financial products or services in the UK, the process for seeking compensation typically involves the following steps: 1. Contact the firm: The first step is to contact the firm that sold the financial product or service and file a formal complaint, providing all relevant details and evidence of mis-selling. The firm is obligated to investigate and respond to the complaint, typically within eight weeks. 2. Financial Ombudsman Service (FOS): 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. The FOS is an independent body that reviews the case, considers both sides of the argument, and makes a binding decision on the firm. 3. Financial Services Compensation Scheme (FSCS): If 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. The FSCS is a statutory compensation fund that provides compensation to consumers when authorized financial services firms fail or are unable to meet claims. It is important to act promptly when seeking compensation, as there may be time limits for submitting claims. Consumers should also consider seeking independent financial or legal advice, especially if the claim is complex or involves a large sum of money. Although the general steps for claiming compensation remain the same, the specific processes and eligibility criteria may differ depending on the financial product, service, or circumstances involved.

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