Address
Unit 2
Warwick Court
34- Leigh Road
Eastleigh
Hampshire
SO50 9DT
S O 5 0 9 D T
UNITED KINGDOM
Resolutiontrust (Servicing) Ltd
Current Status: No longer authorised
Reference Number: 300285
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfPgzAAF
A firm with the status "No longer authorised" may have had its authorisation removed due to 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 information about a specific firm's authorisation status and reasons for any changes, it's important to check the FCA register or contact the FCA directly.
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. To ensure compliance, firms must provide adequate training, identify and manage conflicts of interest, implement internal controls and procedures, and adhere to best practices.
The UK financial services sector has been plagued by financial mis-selling in the past, with high-profile cases involving Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension products. Banks have paid out billions of pounds in compensation to affected consumers and businesses. To combat this issue, the Financial Conduct Authority (FCA) has taken action to protect consumers, including introducing new regulations, conducting enforcement actions, and establishing redress schemes. Despite these measures, the risk of mis-selling remains a concern and requires vigilance from both the regulator and the industry.
Consumers who have been mis-sold financial products or services in the UK may be eligible to claim compensation. The process for seeking compensation typically involves contacting the firm that sold the product or service and filing a formal complaint, providing all relevant details and evidence of mis-selling. If the firm rejects the complaint or the consumer is not satisfied with the response, they can then escalate the issue to the Financial Ombudsman Service, an independent body that resolves disputes between consumers and financial services providers. If 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. It's essential to act promptly when seeking compensation for mis-selling as there may be time limits for submitting claims, and consumers should consider seeking independent financial or legal advice if the claim is complex or involves a large sum of money. Note that specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved.