Regulatory Alerts2025-06-23
NBFIRA Complaints Procedure June 2025
The Non-Bank Financial Regulatory Authority (NBFIRA) mandates a structured complaints procedure requiring individuals to first exhaust regulated entities' internal resolution processes before escalating unresolved matters via an online portal or telephone. Escalation is permitted when entities fail to acknowledge submissions within ten working days or when complainants remain dissatisfied, necessitating a written statement of events and comprehensive personal and entity details. NBFIRA categorizes these submissions into four complexity tiers, assigning resolution turnaround times ranging from 10 to 150 working days while providing periodic progress updates until final determination.
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