Company: FRFXF
Filing Date: 2025-10-09
Form Type: F-10/A
Source: 0001104659-25-098335
Chunk: 97

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-10-09
Form: F-10/A
Chunk 97
---
 Authorized firms must have appropriate complaints handling procedures but, where these are exhausted, the FOS provides for dispute resolution in respect of complaints brought by eligible complainants.

The FOS is available to eligible complainants in addition to their right to bring a claim in the courts. If the FOS determines a dispute in favor of a complainant, it has the power to order a firm to pay compensation for any loss or damage it caused to the complainant, or to direct a firm to take such steps in relation to the complainant as the FOS considers just and appropriate, irrespective of whether a similar award could be made by a court. The FOS is mainly funded by levies and case fees payable by firms falling within the jurisdiction of the FOS.

The Financial Services Compensation Scheme (“

#### FSCS
”) is established under FSMA and may provide compensation to certain categories of customers who suffer losses as a consequence of the inability of a regulated firm to meet its liabilities arising from claims made in connection with regulated activities. The FSCS is funded by means of levies on all of its participating financial services firms, including Lloyd’s. On July 15, 2025, HM Treasury published a consultation paper on the operation of the FOS, focusing on how the FOS addresses consumer complaints (the principal aim of the consultation is to stop the FOS acting as a quasi-regulator and to ensure that it is properly performing its role as a simple, impartial dispute resolution service). Concurrently, the FCA and the FOS published a consultation paper on proposals to modernize the redress system in the U.K.

Money Laundering and Other Financial Crime

All FSMA authorized firms are required to undertake certain administrative procedures and checks, which are designed to prevent money laundering. The FCA Handbook contains rules which require firms to establish and maintain effective systems and controls for countering the risk that the firm might be used to further financial crime. For these purposes, financial crime includes any offence involving fraud or dishonesty, misconduct in, or misuse of information relating to, a financial market or handling the proceeds of crime, as well as bribery and corruption offences. One of the FCA’s statutory objectives is to protect and enhance the integrity of the U.K. financial system which includes, among other things, reducing the opportunity for the U.K. financial system to be used for purposes connected with financial crime.

Qualifying Parent Undertaking

The PRA and the FCA have the power, in certain circumstances, to give directions to certain “