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Solent (Portsmouth) Limited

Current Status: No longer authorised

Reference Number: 300303

Website: http://www.hilseanissan.co.uk

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfPj3AAF


Hilsea Nissan
468 London Road
P O 2 9 R N


0/5 (0 Reviews)

A firm with the status "No longer authorised" may have had its authorisation revoked by the FCA 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 about the specific firm's authorisation status and the reasons for any changes, it's essential to check the FCA register or contact the FCA directly.

Non-compliance with rules and regulations can occur for a variety of reasons, including 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 mitigate the risk of non-compliance, firms must prioritize establishing a strong compliance culture, implementing effective governance structures, and maintaining ongoing monitoring and reporting systems.

The UK financial services industry has seen a significant amount of financial mis-selling in the past, with high-profile cases involving a range of products and services, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages and Pension mis-selling. To protect consumers from such practices, the Financial Conduct Authority (FCA) has implemented a range of measures, including enforcement actions, compensation schemes and new regulations. Nevertheless, the risk of mis-selling persists and requires continued oversight from both the FCA and the industry to ensure that consumers are treated fairly and appropriately.

If you think you have been mis-sold a financial product or service, it's important to take action as soon as possible. If you have been mis-sold a financial product or service in the UK, the process for seeking compensation typically involves the following steps: 1. Contact the firm: Submit a formal complaint to the firm that sold the product or service, providing all relevant details and evidence of mis-selling. The firm is obligated to investigate and respond to the complaint, typically within eight weeks. 2. Financial Ombudsman Service (FOS): If the firm rejects the complaint or the consumer is not satisfied with the response, they can escalate the issue to the Financial Ombudsman Service. The FOS is an independent body that resolves disputes between consumers and financial services providers. They will review the case, consider both sides of the argument, and make a decision. Their service is free for consumers, and their decisions are legally binding on the firm. 3. Financial Services Compensation Scheme (FSCS): In cases where 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. The FSCS is a statutory compensation fund that provides compensation to consumers when authorized financial services firms fail or are unable to meet claims. The amount of compensation the FSCS can pay varies depending on the type of financial product or service involved. It's important to take action as soon as possible when seeking compensation for mis-selling, as there may be time limits for submitting claims. Consumers should also consider seeking independent financial or legal advice, especially if the claim is complex or involves a large sum of money. Keep in mind that while these general steps apply to most cases of financial mis-selling in the UK, specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved.

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