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As private credit owners navigate troubled borrower situations, they often face the challenge of replacing underperforming senior management teams. With the UK abolishing the unfair dismissal compensation cap and reducing the qualifying period from two years to six months starting January 2027, the landscape for managing executive exits is set to transform dramatically, making current strategies for performance management and negotiated departures significantly more complex and costly.

The FCA seeks stakeholder comments on its suggestions by 8 May 2017, after which it expects to publish a response later in 2017.