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The Financial Conduct Authority (FCA) has published final guidance (FG16/3) to firms in relation to voluntary redress schemes under the Competition Act 1998. This follows amendments made by the Consumer Rights Act 2015, which gives the FCA concurrent powers to approve voluntary redress schemes in relation to breaches of UK and EU competition law. The FCA had launched a consultation in this area which closed on 15th February 2016 and elicited no responses from across the financial services industry.
BIBA members may access the FG16/3 by clicking here.
BIBA members’ compliance and regulation queries should be directed to: compliance@biba.org.uk
The post FCA finalises guidance on voluntary redress schemes under competition law appeared first on British Insurance Brokers' Association.
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