Regulatory Alerts2020-07-15
Added · Updated
Finalised guidance on branch and ATM closures or conversions
Regulated firms operating branches or ATMs must notify the FCA of planned closures or conversions and conduct analyses of customer needs, impacts, and alternative access arrangements. Firms are required to communicate these plans to customers no less than 12 weeks before implementation and publish summaries of their impact analyses. The guidance applies to decisions taken after 21 September 2020 and requires firms to consider the specific needs of vulnerable consumers and micro-enterprises when assessing alternatives.
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