FIN.

FCA not to proceed with capital deduction for redress plans

The FCA has finally confirmed it will not be proceeding with its proposals to require personal investment firms to set aside capital for potential redress liabilities at an early stage. It says it has made this decision because of the various wider regulatory changes impacting the advice market. Instead, it reiterates that firms should consider their positions in line with the Consumer Duty, and to have considered its previous communication that sets out its expectations.

Emma Radmore