The challenge
An FCA-directed suitability review began as a focused examination of 50 customer files. As findings emerged, the regulator expanded the required population to 3,000 customers — a scale that threatened both the timetable and the client’s budget under the original redress calculation methodology.
What we did
TCC Group’s actuarial team proposed an alternative calculation methodology and put it to the regulator directly. Once accepted, the approach allowed the expanded population to be processed consistently and defensibly, with clear audit trails at every stage.
The outcome
The review completed four months ahead of the predicted delivery date and saved the client over 20% of the original cost estimate, while giving the FCA full confidence in the redress calculations applied.