Following the publication of a policy statement as regards the initiation of a consumer redress scheme for customers of the British Steel Pension Scheme which were wrongfully or poorly advised to transfer out of the scheme (please also see EventID 18571 in this context) and the subsequent correction of one of the provisions set out in the policy statement (please see EventID 19215 in this context), the Financial Conduct Authority (FCA) has now published the corrected Handbook provision.
Specifically, Consumer Redress Schemes Sourcebook CONRED 4 Annex 18G was republished in its correct version. This annex provides a flowchart of the steps involved in the determination of redress payments to affected customers.
Other Features
assessment
consumer protection
due diligence
financial advisors
pension funds
Date Published: 2023-01-12
Date Taking Effect: 2023-02-28
Regulatory Framework: FCA Handbook
Regulatory Type: procedure
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