Regulatory Alerts2022-11-24
Added · Updated
Extended Asset Retention Requirement for Firms Under the British Steel Pension Scheme Consumer Redress Scheme
The Financial Conduct Authority (FCA) issued Policy Statement PS23/1 to extend the asset retention requirement for firms managing the British Steel Pension Scheme consumer redress scheme. This regulatory change mandates that affected firms maintain adequate financial buffers to cover potential compensation payouts and operational costs during the redress process. The extended requirement remains binding until the regulator publishes further guidance or formally revokes the policy.
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