The FCA has published its proposed guidance on how it will exercise its powers to approve and enforce redress schemes under section 49C of the Competition Act 1998. Following amendments made by the Consumer Rights Act 2015, the FCA has new powers pursuant to the Competition Act 1998, allowing them to approve a redress scheme in relation to anti-competitive behaviour.

The guidance is aimed at firms looking to provide compensation under such a scheme, but also those who set up or advise on redress schemes under the Competition Act 1998. Comments and views are sought by email no later than the 15 February 2016.