The FCA’s recent consultation on modernizing the redress system (CP26/9, discussed in FOS Reform: From Review to Action) includes a policy statement which makes important changes to the notifications guidance in chapter 15 of the Supervision module of the FCA Handbook (SUP 15). The FCA is introducing new guidance on when
FCA updates guidance on when to make a notification
Changes to guidance expand circumstances in which firms need to consider making a Principle 11 notification in relation to customer redress issues.