Consultation opens
15/07/2025
15/07/2025
Consultation closes
08/10/2025
The FCA and Financial Ombudsman Service are seeking views on proposals to modernise the redress framework, to better serve consumers and give firms greater certainty to invest and innovate.
Update 26 August: We amended figures on page 50 of the CP to reflect a misquote from the Financial Lives Survey. The correction doesn’t affect our analysis or findings.
Our strategy (PDF)[2] recognises that the current redress regime can create uncertainty for consumers, firms and investors.
We want to achieve greater predictability, certainty and transparency, with appropriate responsibility for firms to identify and address redress issues early on.
This Consultation Paper (CP) follows our November 2024 joint Call for Input (PDF[3]) with the Financial Ombudsman[4] and summarises the feedback we received to that publication.
The Treasury has also published a consultation[5], which should be read alongside this CP.
We have also updated our Memorandum of Understanding (PDF)[6] with the Financial Ombudsman Service to improve how we work together on important issues.
Our proposals are relevant to all consumers, firms and representatives involved in financial services where redress may be due.
They will also be of interest to policymakers in other regulatory bodies, industry advisers and consultancies, academics and think tanks, experts and media commentators.
The FCA and Financial Ombudsman are asking for comments on this CP by 8 October 2025.
You can send comments to us using our online response form[7].
Or by writing to:
Redress Pathways and Risk Team, Financial Conduct Authority, 12 Endeavour Square, London E20 1JN.
Emailing: [email protected].
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