Recommendation 167

To address some of these issues, in November 2024, the FOS and FCA published a joint Call for Input, 253 which closed on 30 January 2025. The Call for Input recognises some of the concerns expressed in our evidence over the potential impact of the regulatory uncertainty on growth and competitiveness. It states: “If the UK redress framework does not operate effectively or is seen to be hampering a stable and predictable trading environment, this can potentially affect the FCA’s primary objectives of consumer protection, market integrity and competition, as well as the FCA’s secondary objective to facilitate the international competitiveness of the UK economy in the medium to long term.” 254