Address
2 Chapel Lane
Ravenshead
Nottingham
Nottinghamshire
NG15 9DA
N G 1 5 9 D A
UNITED KINGDOM
Current Status: No longer authorised
Reference Number: 147808
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfFqlAAF
2 Chapel Lane
Ravenshead
Nottingham
Nottinghamshire
NG15 9DA
N G 1 5 9 D A
UNITED KINGDOM
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 verify the FCA register or contact the FCA directly to discover more information about a specific firm's authorisation status and what led to any changes.
This can include training staff, setting up internal procedures, providing adequate resources and support, identifying and managing conflicts of interest, adhering to conduct rules, implementing financial crime controls, protecting client assets, and ensuring data security. Additionally, firms should regularly assess their capital and liquidity requirements to ensure they are compliant with applicable regulations.
The UK financial services industry has been marred by several high-profile cases of financial mis-selling, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages, and Pension mis-selling. These cases have cost millions of consumers and businesses billions of pounds in redress. In response, the Financial Conduct Authority (FCA) has taken several measures to protect consumers from mis-selling, including enforcement actions, compensation schemes, and the introduction of new regulations to improve transparency and disclosure. However, the risk of mis-selling remains an ongoing concern, and continued vigilance from both regulators and the industry is necessary to ensure fair treatment for all.
Consumers who have been mis-sold financial products or services in the UK may be entitled to seek compensation. The process typically involves contacting the firm responsible for the mis-selling, escalating the complaint to the Financial Ombudsman Service (FOS), and filing a claim with the Financial Services Compensation Scheme (FSCS) if the firm is no longer in business or has been declared in default. It is important to act quickly, as there may be time limits for submitting claims, and to consider seeking independent financial or legal advice if the claim is complex or involves a large sum of money. Note that the specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances.