Compass Friendly Society Limited

Reference number: 189097

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Authorised by the FCA

This firm is on the FCA register and authorised to carry out regulated activities.

Identity

Check their details

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

Activities and protection

What they can do, and how you are protected

  • Hold or safeguard your money FSCS may apply
    Eligible deposits are typically protected by the FSCS up to £120,000 per person, per banking group.
  • Give regulated advice FSCS may apply
    A claim for unsuitable advice is itself FSCS-protected, up to the limit that applies to the product you were advised on.
  • Manage or trade investments FSCS may apply
    Eligible investment and pension claims are typically FSCS-protected up to £85,000 per person, depending on the product and your circumstances.
  • Sell or arrange insurance FSCS may apply
    Eligible insurance claims may be FSCS-protected, often 90%, or 100% for compulsory or long-term cover.
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  • Accepting Deposits
  • Advising on P2P agreements
  • Arranging (bringing about) deals in investments
  • Arranging safeguarding and administration of assets
  • Carrying out contracts of insurance
  • Dealing in investments as agent
  • Dealing in investments as principal
  • Effecting contracts of insurance
  • Making arrangements with a view to transactions in investments
  • Safeguarding and administration of assets (without arranging)

Limits on what they may do

  • Activities only in respect of long term insurance.
    The firm may only carry on listed activities in respect of the investments specified for the purpose of its long term insurance business.
  • Compass must cease, except with the Authority's prior written consent, effecting new contracts of insurance.
    Compass Friendly Society Limited (“Compass”) applies to the Financial Conduct Authority (the “Authority”) under section 55L(5)(a) of the Financial Services and Markets Act 2000 (“the Act”) for the Authority to impose the following requirements (“Requirements”) on Compass’s Part 4A permission, as set out in the terms below. Business Restriction 1.Compass must cease, except with the Authority's prior written consent, effecting new contracts of insurance. For the avoidance of doubt, this Requirement does not prevent Compass from continuing to service existing contracts of insurance, including the collection and investment of ongoing premiums and payment of benefit claims. 2.Compass must provide written confirmation to the Authority that it is in compliance with Requirement 1 from the effective date. Effective Date 3.The Requirement in this application is to take effect immediately on its acceptance by the Authority and notification of such to Compass via email. Publication 4.The Requirement will be published on the Firm’s entry on the Financial Services Register. Definitions 5.Where relevant for interpreting this application, terms have the same meaning as in the Glossary to the FCA Handbook. In this application: i.“Existing contract of insurance” means any insurance policy with Compass in force at the time the Requirement came into force; ii. “New contract of insurance” means any insurance policy with Compass which had not been effected at the time the Requirement came into force; and iii. “Effecting” means offering, pricing and negotiating insurance business, confirmation of cover and issuance of policies.

Complaints: You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.

Track record

FCA actions and complaints

No FCA disciplinary action, and no complaints recorded with the Ombudsman.

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Common questions

Frequently asked questions

Is Compass Friendly Society Limited FCA authorised?
Yes, Compass Friendly Society Limited (FRN 189097) is authorised by the FCA to carry out regulated activities.
Is my money safe with Compass Friendly Society?
It depends on the product, but eligible claims may be protected by the FSCS. You can also refer complaints about Compass Friendly Society to the Financial Ombudsman Service, free of charge.
Is Compass Friendly Society a scam or clone?
Compass Friendly Society is a genuine FCA-listed firm. However, scammers sometimes clone authorised firms. Always check that the contact details you were given match those on the FCA register before sending money or sharing information.
What is Compass Friendly Society's Firm Reference Number (FRN)?
Compass Friendly Society's FRN is 189097. You can verify it on the FCA register.