A "redress scheme" is a system that helps to resolve or correct problems or grievances people may have. It provides a remedy or compensation for any harm or injustice experienced by individuals. Full definition
Pressure continues to mount for an independent redress scheme for small firms that have been mis - sold complex financial products, as Ed Miliband voiced his supported the FSB's ongoing campaign. (politics.co.uk)
Mass - redress schemes do not have the capability to uphold any of the original objectives of the FCA, says Michel Reznik (newlawjournal.co.uk)
The Financial Conduct Authority (FCA) may make rules (under section 404 and sections 404A to 404G of the Financial Services and Markets Act 2000 (FSMA) requiring certain firms to establish and operate a consumer redress scheme in relation to a widespread or regular failure by such firms to comply with requirements applicable to the carrying on by them of any activity. (globalinvestigationsreview.com)