RegAlert

Consultation · FCA · 11 Feb 2016

CP16/6: Complaints against the Regulators

consumer

The Financial Conduct Authority, the Bank of England, and the Prudential Regulation Authority are consulting on changes to the reporting and response procedures for complaints against them. These changes implement Section 20 of the Small Business, Enterprise and Employment Act 2015, which mandates that the Complaints Commissioner produce annual reports and that regulators publicly respond to any resulting recommendations or criticisms. The consultation seeks input from consumers and firms regarding the Complaints Scheme by 8 March 2016.

United KingdomFinancial Conduct Authority

We, along with the Bank of England and the Prudential Regulation Authority (the regulators) are consulting on changes to how complaints about us are reported and responded to.

Why are we issuing this Consultation Paper?

Under the Financial Services Act 2012 the regulators operate a Complaints Scheme to investigate complaints against them. The Complaints Commissioner is responsible for independently reviewing complaints against the regulators in accordance with this scheme.

Section 20 of the Small Business, Enterprise and Employment Act 2015 inserts new subsections into the 2012 Act. These require the Complaints Commissioner to produce an annual report on their investigations and to send a copy to each of the regulators and the Treasury.

If the report makes recommendations or criticisms about the regulators’ handling of complaints, each regulator must respond, publish the response and send a copy of its response to both the Complaints Commissioner and the Treasury. The Treasury must lay the annual report and any responses before Parliament.

CP16/6: Complaints against the Regulators
[PDF]

Who is this consultation aimed at?

This consultation is aimed at both consumers and firms who may wish to use the Complaints Scheme.

Next steps

Should you wish to provide any comments please email them to cp16-06@fca.org.uk by 8 March 2016.

Find out more

See our pages complaining about us
.

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Lineage

The documents this one cites, and the documents that cite it.

Act No. 10 of 2012Not in RegAlertAct No. 10 of 2012 — Not in RegAlertAct No. 26 of 2015Not in RegAlertAct No. 26 of 2015 — Not in RegAlertCP16/6: Complaints against theRegulators2016-02-11 · this documentCP16/6: Complaints against the Regulators (2016-02-11)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (2)
Issued under
  • Act No. 10 of 2012Not in RegAlert

    “Under the Financial Services Act 2012 the regulators operate a Complaints Scheme to investigate complaints against them.”

  • Act No. 26 of 2015Not in RegAlert

    “Section 20 of the Small Business, Enterprise and Employment Act 2015 inserts new subsections into the 2012 Act.”

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Source: Financial Conduct Authority — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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