Address
Potter Street
London Road
Harlow
Essex
CM17 9NP
C M 1 7 9 N P
UNITED KINGDOM
Village Cars (Herts & Essex) Limited
Current Status: No longer authorised
Reference Number: 305211
Website: www.villagecars.co.uk
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfU42AAF
A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons. These could include voluntary cancellation due to changes in their business model or ceasing operations, failing to meet regulatory requirements such as capital adequacy, risk management, or governance standards, being found non-compliant with FCA rules and regulations, enforcement action being taken against them for breaches of regulatory requirements or misconduct, not paying the required FCA fees, or being inactive for a certain period and not providing regulated services. To find out more about a firm's authorisation status and why it changed, it's important to check the FCA register or contact the FCA directly.
Such measures may include: Developing and implementing comprehensive internal systems and controls to ensure compliance with all applicable rules and regulations. Providing staff with adequate training and support to understand and properly implement regulatory requirements. Establishing effective corporate governance structures to ensure oversight and accountability. Making accurate, transparent, and timely disclosures to regulators, clients, and the public. Identifying, managing, and openly disclosing conflicts of interest. Adhering to all relevant conduct rules and principles. Establishing adequate client protection measures and best execution practices. Implementing robust financial crime prevention, detection, and reporting systems. Adhering to data protection laws and procedures to protect personal and sensitive information. Maintaining the required level of capital and liquidity to support operations and manage risk. By taking the necessary measures to ensure compliance and prevent non-compliance with rules and regulations, firms can ensure that their operations remain in line with applicable laws and regulations.
The UK financial services industry has experienced numerous cases of financial mis-selling in the past, from Payment Protection Insurance (PPI) to Interest Rate Hedging Products (IRHP) to Endowment mortgages and Pension mis-selling. This has resulted in billions of pounds in compensation for affected consumers and businesses. The Financial Conduct Authority (FCA) has taken action to address these issues, such as implementing new regulations to improve disclosure and transparency, and introducing compensation schemes. However, the risk of mis-selling persists and regulators and the industry must remain vigilant to ensure fair treatment and protection of consumers.
Consumers who have been mis-sold financial products or services in the UK may have the right to seek compensation. The process typically involves contacting the firm responsible, escalating the issue to the Financial Ombudsman Service (FOS) if necessary, and in some cases, filing a claim with the Financial Services Compensation Scheme (FSCS). It's important to act quickly, as there may be time limits for submitting claims, and to seek independent financial or legal advice if the claim is complex or involves a large sum of money. However, the exact process and eligibility criteria may vary depending on the particular financial product or service involved.