We wrote about the background to updated redress guidance following the Chancellor’s announcement of changes to the way that the Retail Prices Index (RPI) inflation measure is calculated from 2030. You can read that article here.
The FCA’s transfer redress guidance has now been duly updated and can be accessed here. The changes affect all redress calculations since 25 November 2020, even where those have been agreed and settled with clients. Calculations will need to be redone if necessary and any additional redress due will need to be paid.
How accurate is the data your firm submits to the FCA?
Shirley McKenzie Compliance 2021, Conduct, FCA, PI
The FCA set out in its Business Plan 21/22 how it is changing to improve performance and meet future challenges. Read our previous article setting out a few of the key areas. Firms can learn from the progress to date on one of the key areas … The Early Oversight Function (EOF): stronger oversight […]