FCA Complaint Handling

Dec 8th '23

Financial Conduct Authority (FCA) regulated firms are required to have internal complaint handling procedures in place.


Here’s a summary of key points:


1. FCA handbook: the FCA provides detailed guidelines on internal complaint handling procedures in its handbook, particularly in DISP Dispute Resolution: Complaints (DISP) 1.2, DISP 1.3, and DISP 1.4 sections [1] [3] [4].

2. Complaint resolution: firms must resolve complaints within specific time limits and maintain records [4].

3. Consumer notification: if a firm can’t resolve a complaint within 3 business days, they must acknowledge it in writing [5].

4. Financial Ombudsman Service (FOS): firms must cooperate with FOS and comply with its rules [6].

5. Compliance with DISP chapter: firms must follow the rules set out in the DISP chapter of the FCA handbook [7].

6. FCA oversight: the FCA oversees and enforces complaint-handling rules for all regulated businesses [8].


FCA regulated businesses should refer to the FCA handbook for specific details and ensure they have effective complaint handling processes in place to meet regulatory requirements [1] [3].


Also see How to effectively manage FCA regulated complaints


[1] https://www.handbook.fca.org.uk/handbook/disp/1/2.html?date=2005-01-14
[2] https://www.handbook.fca.org.uk/handbook/disp/1/4.html
[3] https://www.handbook.fca.org.uk/handbook/disp/1/3.html
[4] https://handbook.fca.org.uk/handbook/disp/1/3.html?date=2006-11-06
[5] https://www.fca.org.uk/consumers/how-complain
[6] https://complianceconsultant.org/regulatory-complaint-handling-the-fca/


Related: Comprehensive guide to handling FCA-regulated complaints


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