The UK Complaints Commissioner has urged the FCA to consider whether firms should be required to provide a clear indication to consumers when they will not be covered by the Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS). The complaint relates to the fact that authorised firms do not have to inform consumers that certain activities they carry out are not regulated activities falling under the remit of the FCA and as such, when something goes wrong, the consumer has no recourse to compensation through the FOS or the FSCS. It is common to find such a disclosure in a fund’s offering documents, but the Commissioner is urging the FCA to assess the efficacy of its rules in this respect in the light of its consumer protection objective.