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.
Are passives the new benchmark?
Alistair MacDougall Compliance 2018, 2019, FCA, MiFID, Pension, PI
Costs are under close scrutiny by the FCA. What do firms need to consider?