UK FCA Consumer Duty (Principle 12 and PRIN 2A)
PRIN 2A.8 to 2A.11: governance and culture, monitoring, redress and product book sales – UK FCA Consumer Duty (Principle 12 and PRIN 2A)

UK FCA Consumer Duty (Principle 12 and PRIN 2A) 2a10-redress: Where foreseeable harm has been caused, take appropriate action: handle complaints under DISP, take reasonable steps to reach customers the firm cannot contact, and notify the firm responsible

What does 2a10-redress require?

When considering what action is appropriate under the good-faith rectification rule, a firm that has received a complaint handles it under DISP (or the MiFID complaints rules) and, where the harm affects other customers, considers whether a wider remediation is required. A firm that identifies it has caused foreseeable harm to retail customers with whom it has no client relationship or no means of contact must take all reasonable steps to ensure the customers are informed and remediated, for example by asking the distributor to pass on information. Where the firm concludes that another chain firm caused the harm, alone or jointly, it must promptly notify that firm.

Maintained by Gerard Blokdyk

Other controls in PRIN 2A.8 to 2A.11: governance and culture, monitoring, redress and product book sales – UK FCA Consumer Duty (Principle 12 and PRIN 2A)

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The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.