Regulatory Alerts2025-07-11
Added · Updated
CP26/9: Modernising the redress system
The Financial Conduct Authority and the Financial Ombudsman Service are consulting on introducing a new registration stage for complaints to ensure only evidenced cases proceed, alongside amendments to dismissal grounds and the 'fair and reasonable' test in DISP 3.6.4R to remove references to good industry practice and limit applicable standards to the time of the act or omission. The FCA has finalized policy positions requiring firms to report emerging issues under updated SUP 15 guidance and implementing rule changes to improve operational efficiency for the Financial Ombudsman and the Financial Services Compensation Scheme. Comments on the Financial Ombudsman's proposals are requested by 11 May 2026.
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