Sentences with phrase «redress scheme»
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
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.
The various redress schemes resulted in compensation to investors worth over $ 300 million.
The new estate agents redress scheme from the Estate Agents Company Limited has been approved by the Office of Fair Trading (OFT).
«We have asked the Archbishop to tell Executive ministers that the Church stands ready to contribute significant funds to a government - run redress scheme.
The Storm Financial Resolution Schemes became the template for other redress schemes following the 2008 financial crisis.
He wants to promote the use of alternative dispute resolution, and hopes to give the Competition and Markets Authority a limited role in certifying redress schemes.
consideration should be given to extending existing redress schemes to providers who are currently unauthorised (e.g. requiring non-practicising lawyers in will writing operations to meet the same requirements as would apply if they were fully regulated e.g. as to insurance).
For instance, companies may try to reach collective settlements, which are available in respect of certain competition law claims (using the mechanism set out in the Competition Act 1998), or seek to utilise a collective redress scheme.
In addition, a court - administered redress scheme is due to be established for both straight and gay unmarried cohabiting couples who have been living together for five years or more.
HREOC notes, however, that the $ 20,000 amount proposed as a common experience payment under the Bill is a modest amount compared to the comparable redress schemes outlined at Appendix 1.
Even the generalised redress schemes in Queensland and Western Australia stop short of acknowledging the specific harm done to the Stolen Generations.
The OFT is considering two other applications to operate estate agents redress schemes and will announce decisions on these soon.
Margaret McGuckin from Survivors and Victims of Institutional Abuse said: «It is the responsibility of the Northern Ireland Executive to set up a redress scheme for victims of institutional abuse here, but the Catholic Church and religious orders which ran homes where we were abused have a moral and financial responsibility to victims.
Last October, Sajid Javid, the Secretary of State for Communities (and now Housing) said that he wanted to start requiring landlords to join a redress scheme if they did not already use a letting agent.
The FSB is pleased that the FSA has listened to its concerns and has broadened the sophistication criteria so that small firms will not be locked out of the redress scheme.
Developed and implemented a redress scheme with Australia's leading banks on behalf of thousands of individuals who had been leveraged into inappropriate loans by a collapsed financial planning company.
With the approval of a redress scheme under the Consumer Estate Agents and Redress Act 2007, the secretary of state for business enterprise and regulatory reform can now require all estate agents dealing with residential property in the UK to join an approved scheme from October 2008.
If the cohabiting relationship subsequently breaks down you may not apply to the court for maintenance for yourself, unless you satisfy the eligibility criteria for the redress scheme for cohabiting couples.
Such an agreement may include a provision that the redress scheme does not apply to them.
Under the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 a redress scheme has been introduced for opposite - sex cohabiting couples who are not married and same - sex cohabiting couples who are not registered in a civil partnership.
There is a redress scheme for cohabiting couples who have been in a long - term relationship or who have had children.
The redress scheme provides for a broadly similar range of orders as are available to married couples when they separate or divorce.
Redress scheme for cohabiting couples Under the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 a redress scheme has been introduced for opposite - sex and same - sex cohabiting couples.
Under the redress scheme for cohabiting couples a qualified cohabitant may apply for provision to be made from the estate of a deceased cohabitant.
RAV recommends for any redress scheme to be inclusive, and does not support the exclusion of some survivors from the scheme, as proposed in the current bill before Parliament.
Further, there are unresolved legal questions as to whether recipients under the redress scheme are prevented from pursuing other litigation or compensation for forcible removal issues.
The Bill also provides for the taxation consequences of the redress scheme for both opposite - sex and same - sex cohabiting couples provided for in the Civil Partnership and Certain Rights of Cohabitants Act 2010.