UK FCA Consumer Duty (Principle 12 and PRIN 2A) 2a2-rectify-harm: When complaints, monitoring or any other source show retail customers suffered foreseeable harm from the firm's acts or omissions, take appropriate action to rectify it

What does 2a2-rectify-harm require?

Where a firm learns, from complaints, its own monitoring or anywhere else, that its acts or omissions caused retail customers foreseeable harm, acting in good faith requires it to take appropriate action to put things right. The duty does not bite where the harm flowed from the product's inherent risks and the firm reasonably believed the customers knew and accepted them. PRIN 2A.10 fills in what appropriate action means (see the redress leaf).