Address
Unit 4
Shepley Industrial Estate North
Shepley Road
Audenshaw
Manchester
Lancashire
M34 5DR
M 3 4 5 D R
UNITED KINGDOM
Your Choice Auto Finance Ltd
Current Status: No longer authorised
Reference Number: 306974
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfAwWAAV
A firm with the status "No longer authorised" may have had its authorisation removed for a variety of reasons. This could include voluntary cancellation due to changes in the firm's business model, ceasing operations, or merging with another firm; failure to meet ongoing regulatory requirements, such as capital adequacy, risk management, or governance standards; non-compliance with FCA rules and regulations; enforcement action taken by the FCA for breaches of regulatory requirements or misconduct; failure to pay the required FCA fees; or inactivity. It's important to check the FCA register or contact the FCA directly for more information about a specific firm's authorisation status and the reasons for any changes.
These measures should include adequate systems and controls, sufficient staff training, accurate and transparent disclosures, appropriate management of conflicts of interest, compliance with conduct rules, client protections, prevention of financial crime, data protection, and maintaining adequate capital and liquidity levels.
The UK financial services industry has seen a number of high profile cases of financial mis-selling, 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 of compensation being paid out to affected consumers and businesses. In response, the Financial Conduct Authority (FCA) has taken a number of steps to address mis-selling issues, including enforcement actions, compensation schemes, and the introduction of stricter regulations. Despite this, mis-selling remains an ongoing concern and requires continued vigilance from both regulators and the industry to ensure consumer protection and fairness.
Consumers who have been mis-sold financial products or services in the UK may be eligible to claim compensation, but it's important to act promptly and seek advice. The process typically involves contacting the firm responsible for the mis-selling, escalating to the Financial Ombudsman Service if necessary, and filing a claim with the Financial Services Compensation Scheme if the firm is no longer in business. It's also important to note that eligibility criteria and processes may vary depending on the product, service, or circumstances.