Address
S Q 2 House
240b Lichfield Road
Four Oaks
Sutton Coldfield
West Midlands
B74 2UD
B 7 4 2 U D
UNITED KINGDOM
Squirrel Financial Management Limited
Current Status: No longer authorised
Reference Number: 193430
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfIhDAAV
A firm with the status "No longer authorised" may have had its authorisation removed by the Financial Conduct Authority (FCA) due to one or more of the following reasons: 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 consult the FCA register or contact the FCA to find out more information about a firm's authorisation status and the reasons for any changes.
Potential causes of such 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. By taking proactive steps to ensure compliance, firms can help to protect their reputation and reduce their risk of regulatory action.
The UK financial services industry has seen a number of high-profile cases of financial mis-selling in the past, ranging from Payment Protection Insurance (PPI) to Interest Rate Hedging Products (IRHP) and endowment mortgages. This has resulted in billions of pounds of compensation being paid out to affected consumers and businesses. The Financial Conduct Authority (FCA) has taken action to address these issues, such as enforcement actions, compensation schemes, and new regulations to improve disclosure and transparency. However, the risk of mis-selling still persists and requires vigilance from both regulators and the industry.
Consumers who have been mis-sold a financial product or service in the UK may be eligible to claim compensation. The process typically involves the following steps: contact the firm responsible for the mis-selling, file a complaint with the Financial Ombudsman Service (FOS), and in cases where the firm is no longer in business or has been declared in default, file a claim with the Financial Services Compensation Scheme (FSCS). It's important to act promptly as there may be time limits for submitting claims, and consider seeking independent financial or legal advice for complex claims. Note that specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved.