This response supports the proposals in, and comments on, FCA 16/26, which consults on guidance on how the FCA will enforce the 'duty of responsibility', which is now in force under the Bank of England and Financial Services Act 2016.

The BSA consistently opposed the proposal of a presumption of responsibility and is pleased that this fundamentally unfair concept was replaced by a duty of responsibility, with the burden of proof where it should be; ie on the regulator.

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