Paragon Asset Finance Limited

Reference number: 712030

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On the register, but not FCA authorised

This firm is registered with the FCA for anti-money-laundering checks only, which is why it appears on the register. That is not authorisation: the FCA does not oversee how it treats customers, and FSCS protection does not apply.

What does this mean?
  • Some businesses are required by law to have an anti-money-laundering supervisor. For this kind of business that supervisor is the FCA, and the registration is the only reason the firm appears on the FCA register.
  • What the FCA checks is narrow: that the firm identifies its customers, keeps records, and reports suspicious activity. It is the anti-crime paperwork behind a bank asking you for ID.
  • It does not check anything about you as a customer. Not whether the firm treats you fairly, not whether it is financially sound, not whether what it sells is any good. The FCA describes firms registered this way as “not authorised or subject to wider FCA regulation”.
  • So if the firm fails or treats you badly, there is no FSCS compensation, and the Financial Ombudsman Service usually cannot look at a complaint about unregulated business.

Website, phone number and address

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.

In the full report: 2 background checks

  • When paragonbank.co.uk first appeared online, and whether it can receive email
  • Who else gives the postcode SO18 2RY
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Other names (3)

If you were contacted under any of these names, it is this firm.

  • Five Arrows Leasing Group Limited Former name
  • Paragon Bank Asset Finance Limited Former name
  • Five Arrows Outsourcing Former trading name

Past FCA permissions and consumer protection

  • Money-laundering registration only
    This firm is registered for anti-money-laundering supervision only. It is not FCA-authorised. Money you hand over is not protected by the FSCS, and the Financial Ombudsman Service may not be able to consider a complaint about unregulated business.

FCA disciplinary action and complaints

No FCA disciplinary action.

The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Company number
02189858
Company status
Active
Company type
Private limited company
Incorporated
6 November 1987 (38 years old)
Registered office
51 Homer Road, Solihull, West Midlands, B91 3QJ, England
Nature of business
  • Financial intermediation not elsewhere classified (SIC 64999)

Directors and company secretaries

Name Role Born Appointed Other companies
Keith Graham Allen Director Jul 1972 28 Apr 2017 133 other companies
David Newcombe Director Jun 1967 21 Oct 2019 18 other companies
John Edward Phillipou Director May 1972 21 Oct 2019 23 other companies
Richard James Woodman Director May 1965 21 Oct 2019 140 other companies

Other companies run by these 4 directors

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other companies
148
closed down
95
are FCA-registered
7

In the full report: all 148 companies, named

  • What each company does, and whether it is still trading
  • Which of these 4 directors sit on each board, and since when
  • Any that went into liquidation or administration
  • The 7 on the FCA register
  • The 133 companies these 4 directors run together
  • All 29 people who have ever been directors, with their dates
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Key dates in its history

Paragon Asset Finance’s history from the FCA register and Companies House, newest first.

Key events (5) All events (55)

2017

1 October 2017

  • Changed its registered name from "Paragon Bank Asset Finance Limited"

FCA register

2016

6 April 2016

  • Paragon Bank PLC took control (75–100% of shares)

Companies House

5 February 2016

  • Changed its registered name from "Five Arrows Leasing Group Limited"

FCA register

2015

5 August 2015

  • Registered with the FCA

FCA register

1987

6 November 1987

  • Incorporated at Companies House

Companies House

In the full report: all 55 events

  • All 55 events in its history (5 shown here)
  • Every director appointment and resignation: 48
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Firms connected to Paragon Asset Finance

Other FCA-listed firms that share a director, phone number or address with Paragon Asset Finance. A link shows who the firm is tied to, not whether either can be trusted.

connected firms
5
share a director
5
share its postcode
1

In the full report: all 5 connected firms, named

  • How each is linked: shared directors (5), the same postcode (1)
  • Who links each one: the named directors, with dates
  • 2 past links through former directors
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Get the full report on Paragon Asset Finance

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 148 other companies its directors have run, named
  • 2 background checks on its contact details
  • All 55 events in its history
  • 5 connected firms, named, and who links them

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Frequently asked questions about this firm

Is Paragon Asset Finance Limited FCA authorised?
Paragon Asset Finance Limited (FRN 712030) is registered with the FCA under the Money Laundering Regulations only. That is anti-money-laundering supervision, not FCA authorisation, and the FCA does not supervise the firm's conduct.
What is Paragon Asset Finance’s website?
The FCA register lists the website paragonbank.co.uk for Paragon Asset Finance. If you were given different contact details, use these to check with the firm before going any further.
Is Paragon Asset Finance a scam or clone?
Paragon Asset Finance is genuinely on the FCA's money-laundering register, so it is not an outright fake, but registration is not authorisation, and scammers impersonate registered firms too. Verify contact details against the register before sending money.
Is my money safe with Paragon Asset Finance?
Money you hand to Paragon Asset Finance is not protected by the FSCS. Money-laundering registration carries no compensation scheme, and the Financial Ombudsman Service may not be able to consider a complaint about unregulated business.
Who owns Paragon Asset Finance?
Paragon Asset Finance is owned by Paragon Bank PLC, which holds 75–100% of shares, 75–100% of votes and can appoint and remove the board, since 6 April 2016.
Who runs Paragon Asset Finance?
Companies House lists 4 directors of Paragon Asset Finance: Keith Graham Allen, David Newcombe, John Edward Phillipou and Richard James Woodman.
How long has Paragon Asset Finance been in business?
The company was formed on 6 November 1987.
Does Paragon Asset Finance use any other names?
It has previously used 3 other names: Five Arrows Leasing Group Limited, Paragon Bank Asset Finance Limited and Five Arrows Outsourcing.

Sources and links

The full report on Paragon Asset Finance Limited

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