The FCA has made the following announcement about the FOS award limit.
“When we increased the Financial Ombudsman Service’s award limit in April 2019 we said that each year, from 1 April 2020, we would adjust the award limits for complaints referred to the service on or after 1 April 2019 to ensure they keep pace with inflation. Following the publication of the CPI figures for January 2021 there will be no adjustments made this year to the award limits set out in DISP 3.7.4R.”
Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.
ATEB Compliance offers compliance and regulatory advice.
ATEB Suitability provides report writing software for the financial services market.
We’re writing to inform you of a couple of changes we have made to ATEB Suitability. What does this mean for me? Following the recent rebrand of Standard Life, we have made the following changes to the ‘Providers/Platforms’ feature of Content Management: Standard Life now renamed abrdn Standard Life Elevate now renamed abrdn Elevate Standard […]
FT Adviser published an article on 21 September under the heading ‘How to advise on DB transfers’. We would like to think that all published content is technically accurate, especially so when it is presented as CPD. However, this particular article was inaccurate on two counts. The purpose of this article is to confirm the […]
Following the recent FCA changes to combined AR applications with the Approved Persons applications on 16th September, some firms who submitted prior to 16th are seeing a warning message advising them that the application cannot proceed until the Approved Person form is added. The FCA has clarified that firms should ignore this warning message for […]
Redirect links from fsa.gov.uk to fca.org.uk will stop working on 1 October 2021. After 8 years, the fsa.gov.uk redirects are due to be switched off as part of decommissioning. Ahead of this, firms should review any website links to fsa.gov.uk and update them to the relevant fca.org.uk links.
Operational resilience: preparing for the switch from analogue to digital phone lines
Richard Foster Compliance FCA, Switch
The FCA has recently issued a reminder to firms about forthcoming changes to the UK telephone system. The current analogue phone network (known as the Public Switched Telephone Network or PSTN) is starting to be switched off across the UK. It will be completely decommissioned by the end of 2025, migrating to a […]