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New industry guidance has been published to help firms meet the requirements of new Financial Services Authority (FSA) rules governing high street banking.
The FSA took over all retail banking conduct regulation for deposit taking and payment services in November 2009.
The detailed guidance retains important provisions from the old Banking Codes, such as helping customers to open basic bank accounts and ensuring they can have an alternative to chip and PIN. It also provides banks and their customers with detailed best practice standards for achieving compliance with the FSA’s rules and principles, such as Treating Customers Fairly.
