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Portsmouth Motorcycle Co Ltd

Current Status: No longer authorised

Reference Number: 309899

Website: www.portsmouthmotorcycles.co.uk

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfOEvAAN


Portsmouth Motorcycles
Unit 3/4
Mountbatten Business Park
Jackson Close
P O 6 1 U R


0/5 (0 Reviews)

A firm that has been deemed "No longer authorised" by the Financial Conduct Authority (FCA) may have had its authorisation revoked for any of the following reasons: 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 reason for the revocation, it's important to consult the FCA register or contact the FCA directly.

Possible causes of non-compliance 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.

The UK financial services industry has been marred by the issue of mis-selling in the past, with a number of high-profile cases involving various products and services, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages and pension mis-selling. The FCA has taken significant steps to tackle this problem, from enforcement actions and compensation schemes, to the introduction of new regulations to improve disclosure and transparency. However, the risk of mis-selling continues to persist, necessitating the need for ongoing vigilance from both the regulator and the industry.

Consumers who believe they have been mis-sold a financial product or service in the UK should contact the firm responsible for the mis-selling and file a formal complaint. If the firm denies the claim or the consumer is not satisfied with the response, the issue can be escalated to the Financial Ombudsman Service. In cases where the firm is no longer in business, consumers can file a claim with the Financial Services Compensation Scheme. It's important to act promptly and seek independent financial or legal advice when filing a claim.

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