Sett Valley Insurance Services
Reference number: 125128
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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.
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No website on the FCA register
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Verified phone number
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Verified address
Sett Valley Insurance Services, 16-18 Market Street, New Mills, High Peak, Derbyshire, SK22 4AE, United Kingdom
Activities and protection
What they can do, and how you are protected
- Give regulated advice FSCS may applyA 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 applyEligible 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 applyEligible insurance claims may be FSCS-protected, often 90%, or 100% for compulsory or long-term cover.
- Lend or arrange credit No FSCS coverConsumer credit is not covered by the FSCS, so there is no compensation scheme if the firm fails.
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- Advising on investments (except on Pension Transfers and Pension Opt Outs)
- Arranging (bringing about) deals in investments
- Assisting in the administration and performance of a contract of insurance
- Credit Broking
- Dealing in investments as agent
- Debt-counselling
- Making arrangements with a view to transactions in investments
Complaints: You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.
Track record
Action taken against them
1 fine in 2010, £28,000 in total. This is part of the official register record and is worth reviewing before going ahead.
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Fined £28,000 on 27 January 2010
On 27 January 2010, the Financial Services Authority (the FSA) imposed a financial penalty of £28,000 (reduced from £40,000 for early settlement) on Sett Valley Insurance Services for breaches of Principles 3 and 9 of the FSA's Principles for Businesses and Section 20(1)(a) of the Financial Services and Markets Act 2000. Specifically, Sett Valley Insurance Services failed to: (i) ensure that its systems and controls were adequate to ensure compliance with regulatory requirements and standards, particularly, in relation to its advice and sales processes and training and competence regime; (ii) record sufficient information about its customers' personal and financial circumstances for assessing the suitability of its recommendations; (iii) ensure the suitability of its advice to customers; and (iv) ensure that it did not provide advice outside the scope of its Part IV permissions. As a result, Sett Valley could not demonstrate the suitability of its recommendations or that customers were provided with adequate information in respect of recommendations to ensure that they were in a position to make an informed decision. Sett Valley must also appoint an independent compliance consultant to conduct a phased review of sales between 1 January 2006 and 31 December 2008 and compensate any customers who may have suffered loss. The phased review of sales has been completed and no evidence of any unsuitable sales was found.
Names it no longer trades under
This firm has retired one trading name. If you were contacted under one of these, the name did belong to this firm, but check the current details above before going ahead.
Show the retired name
- Buckingham Insurance
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