Address
Stevens Vauxhall
Fleming Way
Crawley
West Sussex
RH10 9NS
R H 1 0 9 N S
UNITED KINGDOM
Pearl (Crawley) Ltd
Current Status: No longer authorised
Reference Number: 310315
Website: www.stevensvauxhall.co.uk
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfPAbAAN
A firm that is "No longer authorised" by the Financial Conduct Authority (FCA) may have had its authorisation removed for a variety of reasons. These include voluntary cancellation due to changes in the firm's business model, ceasing operations, or merging with another firm, failure to meet regulatory requirements, non-compliance with FCA rules and regulations, enforcement action taken by the FCA, failure to pay required fees, or inactivity. It is important to check the FCA register or contact the FCA directly for more information about a specific firm's authorisation status and the reasons for any changes.
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 must ensure they have the necessary measures in place to identify, prevent, and address potential non-compliance issues.
The UK Financial Services industry has seen numerous cases of financial mis-selling in the past, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment Mortgages and Pension mis-selling. In response, the Financial Conduct Authority (FCA) has taken decisive action to ensure consumer protection, with enforcement actions, compensation schemes and new regulations to improve disclosure and transparency. Despite this, mis-selling remains a risk that needs to be monitored vigilantly by regulators and the industry alike.
Those who have been mis-sold a financial product or service in the UK may be eligible to claim compensation and should take the following steps: contact the firm responsible for the mis-selling, file a formal complaint, and if necessary, escalate the issue to the Financial Ombudsman Service or Financial Services Compensation Scheme. It's recommended to act quickly and seek independent financial or legal advice if needed.