Address
c/o Administrator
Price Waterhouse Cooper
7 Moor London river side
London
SE1 2RT
S E 1 2 R T
UNITED KINGDOM
Target Financial Management Ltd
Current Status: No longer authorised
Reference Number: 426034
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MffkRAAR
A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons, including 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 to find out more information about a particular firm's authorisation status and why it has changed.
Such measures can help firms identify and address regulatory risks, reduce the risk of financial loss or reputational damage, and ensure compliance with applicable laws and regulations.
The UK financial services industry has seen a number of high-profile cases of financial mis-selling in recent years, including Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. These cases illustrate the need for robust regulatory frameworks and ongoing oversight by the Financial Conduct Authority (FCA) to protect consumers. The FCA has taken several steps to address mis-selling, such as enforcement actions, compensation schemes, and new regulations to improve disclosure and transparency. Nevertheless, the issue of mis-selling continues to be a cause for concern, and it is essential that regulators and the industry remain vigilant in order to protect consumers.
If you think you have been mis-sold a financial product or service, it's important to understand your rights and the steps you can take to seek compensation. If you have been mis-sold a financial product or service in the UK, you may be eligible to claim compensation. Generally, the process involves the following steps: 1. Contact the firm: Reach out to the firm that sold the financial product or service and file a formal complaint, providing all relevant details and evidence of mis-selling. The firm has an obligation 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 outcome, they can escalate the issue to the FOS. This is an independent body that resolves disputes between consumers and financial services providers. They review the case, consider both sides of the argument, and make a binding decision. The service is free for consumers. 3. Financial Services Compensation Scheme (FSCS): If the firm responsible for the mis-selling is no longer in business or has been declared in default, a claim can be filed with the FSCS. This is a statutory compensation fund that provides compensation when authorized financial services firms fail or are unable to meet claims. There are limits to the amount of compensation the FSCS can pay, which vary depending on the financial product or service involved. It's important to act promptly 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, particularly when the claim is complex or involves a large sum of money. Note that the processes and eligibility criteria for claiming compensation may differ depending on the financial product, service, or circumstances involved.