FCA makes new rules on RND and PPI complaints

At its latest Board meeting, FCA has made changes to DISP and its guidance, effective from 8 November,  to confirm that firms must not reject relevant regular premium PPI complaints without considering whether recurring non-disclosure is an issue.

Separately, FCA has amended Chapter 13 of IPRU(INV) to require personal investment firms to have PII cover that does not limit cover where the policyholder or a third party is insolvent, or where any other person (such as the FSCS) makes a claim on the policy. These changes take effect from 1 June 2019.