Address
Teneo Financial advisory limited
156 Great Charles Street
Queensway
Birmingham
B3 3HN
B 3 3 H N
UNITED KINGDOM
VTB Capital plc
Current Status: In Administration
Reference Number: 144003
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfFlmAAF
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's important to check the FCA register or contact the FCA directly for more information about a particular firm's authorisation status and the reasons for any changes.
These measures can help to identify potential issues before they become serious, ensuring that firms comply with all applicable laws and regulations.
The Financial Conduct Authority (FCA) has acknowledged the issue of financial mis-selling in the UK financial services industry and has taken significant steps to address it. Examples of prominent cases include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages and pension mis-selling. These cases highlight the importance of robust regulatory frameworks and ongoing oversight by the FCA to protect consumers from mis-selling and promote fair treatment in the financial sector. Although the FCA has taken steps to improve disclosure and transparency, the risk of mis-selling remains an ongoing concern that requires vigilance from both regulators and the industry. It is also worth noting that the extent of mis-selling may vary across different financial products and services.
Those who have been mis-sold a financial product or service in the UK may be eligible for compensation. This typically involves the following steps: first, contact the firm that sold the product or service, and file a formal complaint with all relevant details and evidence. 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, an independent body that resolves disputes between consumers and financial services providers. In cases where the firm is no longer in business or has been declared in default, consumers can file a claim with the Financial Services Compensation Scheme. It's important to act quickly, as there may be time limits for submitting claims, and to consider seeking independent financial or legal advice. Note that the processes and eligibility criteria may vary depending on the product, service, or circumstances involved.