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Pure Mortgage Solutions (UK) Ltd

Current Status: No longer authorised

Reference Number: 425688

Website: Not Listed

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000Mfh1ZAAR


58 Duke Street
County Durham
D L 3 7 A N


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A firm with the status "No longer authorised" may have had its authorisation removed due to a variety of causes. These might include voluntary cancellation, failure to meet regulatory requirements, non-compliance with rules and regulations, enforcement action, failure to pay fees, or inactivity. To ascertain the reasons for the revocation of authorisation, it is necessary to consult the FCA register or contact the FCA directly.

These measures may include: Establishing appropriate systems and controls: Firms should develop and maintain comprehensive systems and controls to ensure compliance with applicable rules and regulations. Ensuring effective governance: Companies should have strong corporate governance structures that promote accountability and oversight. Providing staff training: Firms should provide their employees with ongoing training and support to ensure they understand and adhere to regulatory requirements. Ensuring accurate disclosures: Firms should provide accurate, timely, and complete information to regulators, clients, and the public. Managing conflicts of interest: Firms should identify, manage, and disclose conflicts of interest in order to prevent inappropriate decision-making. Adhering to conduct rules: Companies should ensure their employees act ethically and professionally at all times to avoid breaches of conduct rules. Ensuring client protections: Firms should implement client protection measures, such as best execution practices, client asset segregation, and proper client onboarding and due diligence. Preventing financial crime: Companies should establish robust controls to prevent, detect, and report financial crimes. Complying with data protection rules: Firms should adhere to data protection laws to protect personal and sensitive information. Maintaining adequate capital and liquidity: Companies should maintain the required level of capital and liquidity to support their operations and manage risks. It is essential for firms to build a solid compliance culture and put in place effective systems and controls to ensure that they are compliant with rules and regulations. This may involve establishing appropriate systems and controls, implementing strong corporate governance structures, providing staff training, ensuring accurate disclosure, managing conflicts of interest, adhering to conduct rules, protecting clients, preventing financial crime, complying with data protection rules, and maintaining adequate capital and liquidity. With these measures in place, firms can ensure they are compliant and avoid any non-compliance issues.

The UK financial services industry has been marred by cases of financial mis-selling in the past, with several high-profile cases involving various financial products and services such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages and Pension products. To protect consumers from further mis-selling and promote fair treatment in the sector, the Financial Conduct Authority (FCA) has taken significant steps to address these issues, including enforcement actions, compensation schemes, and the introduction of new regulations to improve disclosure and transparency. Despite these efforts, the risk of mis-selling remains an ongoing concern that requires vigilance from both regulators and industry players.

Those seeking compensation for mis-selling should contact the firm responsible for the mis-selling and/or the Financial Ombudsman Service for more information. If you have been mis-sold a financial product or service in the UK, it is important to act promptly. The process for seeking compensation typically involves contacting the firm that sold the product or service, filing a formal complaint, and possibly escalating the issue to the Financial Ombudsman Service. Alternatively, if the firm responsible for the mis-selling is no longer in business or has been declared in default, you can file a claim with the Financial Services Compensation Scheme. It is also recommended to seek independent financial or legal advice before submitting a claim.

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