Section 404A(1)

Rules under section 404 may make provision— specifying the activities and requirements in relation to which relevant firms are to carry out investigations under consumer redress schemes; setting out, in relation to any specified description of case, examples of things done, or omitted to be done, that are to be regarded as constituting a failure to comply with a requirement; setting out, in relation to any specified description of case, matters to be taken into account, or steps to be taken, by relevant firms for the purpose of— assessing evidence as to a failure to comply with a requirement; or determining whether such a failure has caused (or may cause) loss or damage to consumers; as to the kinds of redress that are, or are not, to be made to consumers in specified descriptions of case and the way in which redress is to be determined in specified descriptions of case; as to the things that relevant firms are, or are not, to do in establishing and operating consumer redress schemes; securing that relevant firms are not required to investigate anything occurring after a specified date; specifying the times by which anything required to be done under any consumer redress scheme is to be done; requiring relevant firms to provide information to the FCA; authorising one or more competent persons to do anything for the purposes of, or in connection with, the establishment or operation of any consumer redress scheme; for the nomination or approval by the FCA of persons authorised under paragraph (i); as to the circumstances in which, instead of a relevant firm, the FCA (or one or more competent persons acting on the FCA's behalf) may carry out the investigation and take the other relevant steps under any consumer redress scheme; as to the powers to be available to those carrying out an investigation by virtue of paragraph (k); as to the enforcement of any redress (for example, in the case of a money award, as a debt owed by a relevant firm).

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Source: legislation.gov.uk · retrieved 2026-09-04