Following its September 2015 consultation on changes to the FCA Handbook to align it with the ELTIF Regulation, the FCA has now approved the changes to the Handbook that will apply its redress rules to arrangements for eligible retail investors in ELTIFs. The rules bring all managers and depositaries of UK-domiciled ELTIFs, with the exception of ELTIFs set up as investment trusts, within the scope of the FOS and the Financial Services Compensation Scheme (FSCS) when these funds are offered to eligible retail investors. The FCA intends for the time being to treat, for redress purposes, ELTIFs set up as investment trusts in the same way as other investment trusts (which are not currently subject to the FOS or the FSCS). However, the FCA expects all firms to act in accordance with its Principles for Businesses and treating customers fairly (TCF) principles.