FCA consults on extending guidance covering cancellations and refunds

Regulatory Updates | 12/02/21

The Financial Conduct Authority (FCA) has published a guidance consultation on cancellations and refunds aimed at credit and debit card firms and insurance providers. The document relates to the FCA’s finalised guidance on cancellations and refunds published in October 2020.

The guidance was due to end on 2 April 2021, however the FCA is now consulting on extending the guidance due to the ongoing uncertainty around the COVID-19 pandemic. The FCA proposes that the guidance should remain in force during the exceptional circumstances arising out of the COVID-19 pandemic until varied or revoked. The consultation closes on 26 February 2021.