FCA updates BSPS redress calculation tools

FCA has updated its website resources for firms needing to calculate redress due to former BSPS members.  FCA says its redress calculator will make calculations more consistent, ensure consumers get fair and quicker redress and will in most cases mean firms will not need to seek actuarial support to do the calculations.  FCA has sent the calculator to all firms subject to the scheme, together with a user guide and technical report.  It expects to share updates with firms in the second week of each quarter.

Emma Radmore