Address
Mortimer House
17 Victoria Road
Tamworth
Staffordshire
B79 7HS
B 7 9 7 H S
UNITED KINGDOM
Tamworth Finance
Current Status: No longer authorised
Reference Number: 302735
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfRY7AAN
A firm with the status "No longer authorised" may have had its authorisation revoked for a variety of reasons such as 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 check the FCA register or contact the FCA directly for more information about a particular firm's authorisation status and the reasons behind any changes.
Potential causes of non-compliance may 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. Firms must take proactive steps to identify and address these issues to ensure compliance with applicable laws and regulations.
The UK financial services industry has seen several high-profile cases of financial mis-selling in the past, from Payment Protection Insurance (PPI) to Interest Rate Hedging Products (IRHP) and more. The consequences of these cases have been far-reaching, with billions of pounds in compensation being paid out to consumers and businesses. As a result, the Financial Conduct Authority (FCA) has taken several steps to address mis-selling, including enforcement actions, compensation schemes, and the introduction of new regulations. Despite these efforts, mis-selling remains a significant issue in the UK and the risk of mis-selling can vary across different financial products and services. It is therefore important that both regulators and the industry remain vigilant in order to protect consumers and promote fair treatment in the financial services sector.
If you have been mis-sold a financial product or service in the UK, it is important to act quickly. There may be time limits for filing a claim, so it's essential to contact the firm responsible and file a formal complaint as soon as possible. If the firm rejects the complaint or you are not satisfied with the response, you can escalate the issue to the Financial Ombudsman Service (FOS) for a legally binding decision. In the event that 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 (FSCS). It is also recommended to seek independent financial or legal advice, particularly if the claim is complex or involves a large amount of money.