Regulatory Alerts2019-04-09
Guidelines for Complaints Handling in Banking, Finance, Insurance and Securities Activities
The Norwegian Financial Supervisory Authority issued these guidelines to replace previous regulations and ensure adequate consumer protection by establishing clear requirements for how financial institutions organize and process complaints. The document mandates that firms implement written procedures, maintain complaint registers, report data annually, and provide transparent information to complainants regarding handling processes and external dispute resolution options. These national rules are aligned with corresponding European Union guidelines issued by the EBA, ESMA, and EIOPA to harmonize complaint handling standards across the financial sector.
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