The FCA is still considering the feedback to its consultation on requiring firms to set aside capital resources for potential redress liabilities. While it is continuing to carry out increased monitoring of firms and has recently updated on what they should and should not do to tackle “polluting” behaviour, it wants to take time to consider all the feedback it has received. It also wants to consider its proposals in line with other initiatives, not least its review of regulatory requirements following the introduction of the Consumer Duty and the call for input on modernising the redress framework. If it decides to make rules, it will issue a policy statement in due course.
