FSA announces Phase 2 Target Date

United Kingdom

In its September 1999 policy statement, FSA announced that Phase 2 of the Pensions Review must be completed by a single target date of 30th June 2002. This means that by that date, investors must have been sent either an offer of redress, or a letter explaining that redress is not due. FSA will compile statistics on firms, and they can expect no leniency should this Phase 2 deadline not be met.