| Link(s): |
| Handbook Notice 139 |
Context
The FCA has published Handbook Notice 139, confirming a number of Handbook changes and when they will come into force. The more relevant items are set out below.
Key points to note and next actions
- A new DISP 3.1A sets out the details of the new FOS ‘registered’ and ‘pre-registered’ stages.
- The grounds for dismissal of a complaint by FOS have been re-drawn.
- Redress reforms requirements in SUP, DISP and COMP seek to clarify when firms should report emerging issues to the FCA and to improve the operational efficiency of FOS and the FSCS by streamlining processes and reducing the operational costs ultimately met by firms.
- Complaints reporting changes extend the requirement to provide vulnerable customer complaints data to all firms reporting complaints using the new consolidated complaints return from 1st January 2027.
- Changes to the FEES Sourcebook amend the due dates for ‘on account’ payments and retain the current relevant business definition in FEES 5, which means that only income from consumers will continue to be reported in the FOS fees element of Section J of the RMAR (RMA-J).
- Reducing the administrative fee for late regulatory returns.
- Removing REP021a, b and d and reducing the FIN073 reporting frequency.