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Tax and Wealth Management Ltd

Current Status: No longer authorised

Reference Number: 475990

Website: Not Listed

Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000Mfo4uAAB


Unit 2
Morston House
Princes Court
Beam Heath Way
C W 5 6 G D


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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. To find out more about a particular firm's authorisation status and the reasons for any changes, it is essential to consult the FCA register or contact the FCA directly.

There are a number of reasons why a firm might not comply, such as 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 implement and maintain effective internal systems, controls, and procedures, provide adequate training and support to their employees, and follow best practices for client protection and data protection.

The Financial Conduct Authority (FCA) has taken a number of steps to address the issue of mis-selling in the UK financial services industry. Examples of high-profile cases include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. These scandals have resulted in billions of pounds in compensation being paid to affected consumers. The FCA has implemented enforcement actions, compensation schemes, and new regulations to improve disclosure and transparency. However, mis-selling remains an ongoing concern and requires vigilance from both regulators and industry. It is essential that a robust regulatory framework is in place to protect consumers from this practice and ensure fair treatment in the financial services sector.

If you have been mis-sold a financial product or service in the UK, the process of seeking compensation typically involves the following steps: first, contact the firm responsible for the mis-selling and file a formal complaint, providing all relevant details and evidence of the mis-selling; second, 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 (FOS), an independent body that resolves disputes between consumers and financial services providers; and third, 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 (FSCS). It is essential to act promptly when seeking compensation, as there may be time limits for submitting claims, and independent financial or legal advice may be necessary. Note that specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved.

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