Address
4.40E+12
Yellowsport Trading Ltd
Current Status: No longer authorised
Reference Number: 313452
Website: www.motoroptions.manchester.co.uk
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfSAHAA3
A firm with the status "No longer authorised" may have had its authorisation removed due to any of the following factors: 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 status and the reasons for any changes, it is important to consult the FCA register or contact the FCA directly.
Reasons for 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. To ensure compliance, firms must provide adequate training and support to their employees, maintain effective internal controls, identify and manage conflicts of interest, and comply with applicable disclosure and transparency requirements.
The Financial Conduct Authority (FCA) has taken a proactive approach in addressing the issue of financial mis-selling in the UK. This includes enforcement actions, compensation schemes, and new regulations to enhance transparency and disclosure. Unfortunately, the problem of mis-selling persists and can manifest itself in various forms, such as Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), Endowment mortgages, and Pension mis-selling. These cases have resulted in billions of pounds in compensation to affected customers and highlight the need for ongoing oversight and regulation of the financial services sector. To ensure consumer protection, the FCA must remain vigilant and continue to monitor the industry for any signs of mis-selling.
Consumers who have been mis-sold financial products or services in the UK may be eligible for compensation. The process typically involves contacting the firm responsible for the mis-selling, escalating the issue to the Financial Ombudsman Service if needed, and filing a claim with the Financial Services Compensation Scheme if the firm is no longer in business or has been declared in default. It's important to act promptly, as there may be time limits for submitting claims, and seek independent financial or legal advice if necessary. Note that specific processes and eligibility criteria may vary depending on the product, service, or circumstances.