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Personal Estate Planning Limited

Current Status: No longer authorised

Reference Number: 224360

Website: Not Listed

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfRwsAAF


2a Cheddar Business Park
Wedmore Road
BS27 3EB
B S 2 7 3 E B


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A firm with the status "No longer authorised" may have had its authorisation revoked by the Financial Conduct Authority (FCA) for a variety of reasons. These may include voluntary cancellation due to changes in the firm's business model or ceasing operations, failure to meet ongoing regulatory requirements such as capital adequacy, risk management or governance standards, non-compliance with FCA rules and regulations, enforcement action as a result of breaches of regulatory requirements or misconduct, failure to pay required fees, or inactivity for a certain period. To find out more about a specific firm's authorisation status and the reasons for any changes, it's important to check the FCA register or contact the FCA directly.

Potential 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. By addressing these risks, firms can ensure that they remain compliant with relevant laws and regulations.

The UK financial services industry has seen multiple 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. This has resulted in significant compensation payments to affected consumers, with the total amount exceeding £38 billion. In response, the Financial Conduct Authority (FCA) has taken measures to protect consumers from mis-selling and ensure fair treatment in the financial services sector. This includes enforcement actions, compensation schemes, and introducing new regulations to promote disclosure and transparency. While these steps are a positive move, there is no doubt that the risk of mis-selling persists. It is therefore important for both regulators and the industry to remain vigilant and work together to ensure fair and responsible practices in the financial services sector.

If you believe you have been mis-sold a financial product or service, it's important to take action as soon as possible. If you have been mis-sold a financial product or service in the UK, you may be eligible to claim compensation. The process typically begins with contacting the firm that sold the product or service and filing a formal complaint with all relevant details and evidence. The firm is obliged to investigate the complaint, usually within eight weeks. If the firm rejects the complaint or the consumer is unsatisfied with the response, they may escalate the issue to the Financial Ombudsman Service, an independent body that resolves disputes between consumers and financial services providers. Decisions from the FOS are legally binding and free to the consumer. 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. The FSCS is a statutory compensation fund that provides compensation when authorized financial services firms fail or are unable to meet claims. There may be time limits for submitting claims, so it's important to act quickly. Consumers should consider seeking independent financial or legal advice, especially if the claim is complex or involves a large sum of money. Specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved.

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