Regulatory AlertsPS23/1: Extended asset retention requirement for firms under the British Steel Pension Scheme consumer redress scheme
The Financial Conduct Authority issued Policy Statement PS23/1 to implement an extended asset retention requirement for firms involved in the British Steel Pension Scheme consumer redress scheme. This regulatory change ensures that relevant firms maintain sufficient financial resources to meet potential redress liabilities arising from the scheme's consumer compensation process. The policy follows a consultation period that opened in November 2022 and closed in December 2022 before being finalized in January 2023.
Consultation opens
28/11/2022
Consultation closed
23/12/2022
Policy Statement
27/01/2023
27/01/2023
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