https://www.taxtmi.com/news?id=17170 Creation of a sector neutral Financial Redressal Agency to provide a unified, accessible redress mechanism for retail consumers, emphasising mediation with light touch adjudication, remedies including directions to FSPs and compensation, and an independent feedback loop to regulators. The FRA will be governed by a Board appointed by regulators in consultation with Government, include an Independent Assessment Officer, and be established initially by executive order before being empowered by a financial consumer protection and redress law. Funding is to come from levies on FSPs collected by regulators; consumers will not be charged. en-us Wed, 28 Dec 2016 14:10:07 +0530 Wed, 28 Dec 2016 14:10:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17170 Creation of a sector neutral Financial Redressal Agency to provide a unified, accessible redress mechanism for retail consumers, emphasising mediation with light touch adjudication, remedies including directions to FSPs and compensation, and an independent feedback loop to regulators. The FRA will be governed by a Board appointed by regulators in consultation with Government, include an Independent Assessment Officer, and be established initially by executive order before being empowered by a financial consumer protection and redress law. Funding is to come from levies on FSPs collected by regulators; consumers will not be charged. News - Wed, 28 Dec 2016 14:10:07 +0530 https://www.taxtmi.com/news?id=17170