Address
Parade House
135 The Parade
Watford
Hertfordshire
WD17 1NS
W D 1 7 1 N S
UNITED KINGDOM
Shakespeare Finance Limited
Current Status: No longer authorised
Reference Number: 441248
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfbJRAAZ
A firm with the status "No longer authorised" may have had its authorisation removed for any of the following reasons: voluntary cancellation, failure to meet regulatory requirements, non-compliance with rules and regulations, enforcement action taken by the FCA, failure to pay fees, or inactivity. It is important to consult the FCA register or contact the FCA directly for more information regarding the specific firm's authorisation status and the reasons for any changes.
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, and implement robust controls to prevent, detect, and report financial crimes. Moreover, they should ensure appropriate client protections and maintain the required level of capital and liquidity.
The Financial Conduct Authority (FCA) has taken significant steps to address the issue of financial mis-selling in the UK, imposing enforcement actions, introducing compensation schemes and new regulations to ensure transparency and disclosure. Examples of such mis-selling include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension products. The severity of these cases and their financial repercussions have been enormous, with millions of consumers and businesses being impacted and billions of pounds in compensation being paid. This highlights the importance of strong regulation and continued oversight by the FCA to protect consumers from deceptive practices and ensure fair treatment by the financial services industry. Although the FCA has taken proactive measures to tackle mis-selling, the risk of such practices remains an ongoing concern, and vigilance is needed from both regulators and the industry.
Consumers who have been mis-sold financial products or services in the UK may be eligible to claim compensation, and the process typically involves the following steps: contacting the firm responsible, escalating the issue to the Financial Ombudsman Service, and filing a claim with the Financial Services Compensation Scheme. It's important to act quickly, as there may be time limits for submitting claims, and to consider seeking independent financial or legal advice. Note that the details of the process and eligibility criteria may vary depending on the type of product or service involved.