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Meeting the requirements of the 2016 FCA complaint handling rule changes | UsefulFeedback complaint definition fca

Meeting the requirements of the 2016 FCA complaint handling rule changes

Home » Blog » Meeting the requirements of the 2016 FCA complaint handling rule changes Author: Michael Hill

FCA thematic review and new rules

2014/2015 has seen the FCA conduct a thematic review of compliant handling in the financial sector. The findings were published last November and new rules changes were announced in July’s full policy statement. The statement confirms the following new requirements for finance firms:

Extending the ‘next business day rule’, where firms are permitted to handle complaints less formally, to three business days after receipt Reporting information on all complaints received to the FCA, including those handled by the close of three business days Raising consumer awareness of the ombudsman service, by sending a ‘summary resolution communication’ following the resolution of complaints handled by the close of the third business day after receipt An improved ‘Complaints return’ which requires firms to send us data twice a year on the number of complaints they receive Limits on the cost of calls made by consumers

Except for the cost of calls rule change scheduled for 26 October 2015, the remaining changes are scheduled for 2016.

Straightforward but deeper implications for processes and systems

Although these appear to be reasonably straightforward, there are significant implications for the systems and tools that the finance sector uses to manage customer complaints. The requirement for 2016 to report all complaints, including those resolved by frontline staff in a less formal way means there is a need to put an appropriate complaint management solution at the fingertips of frontline staff.

The findings of the review published by the FCA in November 2014 in the document ‘Thematic Review TR14/18: Complaint handling’, identified a learning opportunity. It noted a lack of access to systems, an inconsistent approach across firms and the potential for inaccuracy and duplication in processes. The lesson is to consider how best to avoid consumer frustration when complaints are inaccurately recorded and to make accurate recording simple and easy for frontline staff.

Get ready for the 2016 FCA rule changes with UsefulFeedback

Our new platform allows UK finance firms to sign up online to an enterprise solution that is ready for the 2016 FCA rule changes. Firms are able to put a powerful and easy to use complaint management solution right at the fingertips of frontline staff, complaints teams and compliance managers.

The main benefits of the UsefulFeedback Complaint Management solution include:

A dedicated zero-training complaint resolution interface for frontline staff Summary resolution communication by SMS, email or automated postal delivery Easy to use case management, collaboration and root cause analysis tools Embedded BI platform automatically generates of FCA returns and delivery of reports via email Supports multiple brands, different legal entities and varied product groups in a single platform Extensive integration including single sign on, REST API, email and social media integration Responsive, intuitive user interface works equally well on desktops, tablets and smartphones Resilient cloud infrastructure proven to deliver near 100% uptime over the past 6 years Used by enterprises handling in excess of 1 million complaints per year ISO32001 and CESG accredited information security trusted by major UK and US finance firms

To find out more about how we help financial sector businesses meet compliance and turn complaint handling into a strategic tool that improves the quality of products and services, helps to rebuild fhzlvbqx. red moncler down jacket men's trust and perpetuate the good name of a firm, simply contact us on 020 7624 4991 or send us an inquiry via our contact form.

For more detailed discussion of the rule changes, click this link to download the full policy statement ‘PS15/19: Improving complaints handling, feedback on CP14/30 and final rules’ at

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outlet moncler trebaseleghe FCA Authorisation

On 1 April 2014 the Financial Conduct Authority (FCA) became responsible for the regulation of consumer credit in the UK.

From that date any firm or individual that provides debt counselling to consumers must be authorised by the FCA. Unauthorised debt counselling is in breach of section 19 of the Financial Services and Markets Act 2000 (FSMA). This is a criminal offence carrying a maximum prison sentence of two years, a fine, or both. Please note that the FCA’s definition of ‘firm’ includes not for profit organisations providing free debt advice.

What does being regulated by the FCA mean?

The FCA has published a guide for consumer credit firms that are new to FCA regulation. This can be found at: Consumer credit – Being regulated – Guide

Regulated firms are expected to meet the standards set out in the FCA’s Handbook of Rules and Guidance . Its detailed conduct standards for firms carrying out consumer credit activities are set out in its Consumer Credit Sourcebook (known as CONC). The relevant section for debt advice is CONC 8, which can be found at  Handbook – CONC 8 . Advisers who are familiar with the Office of Fair Trading’s (OFT) Debt Management Guidance will see that they are similar in many ways.  The FCA expects that firms will ensure that all employees (this includes both paid staff and volunteers) comply with CONC.

Firms are also expected to meet the FCA’s high level standards, including its Principles for Businesses (PRIN) . Firms must comply with PRIN at all times.


From 1 April 2014 firms regulated by the FCA are also subject to the jurisdiction of the Financial Ombudsman Service (FOS). This means that if a consumer has a complaint about the way in which a consumer credit matter has been handled by a firm, they have the right to pursue their complaint to FOS.  The Disputes Resolution: Complaints (known as DISP) section of the FCA Handbook sets out the detailed requirements for handling complaints and the FOS arrangements. You will find a useful guide for small firms on the FOS website  via the link.  FOS also has a technical advice desk. This can give informal guidance on how the ombudsman might approach a particular complaint, or answer more general questions about its rules and how it works. Click here for contact details for the technical advice desk .

Where can I get help or further information?

AdviceUK cannot apply for FCA authorisation on behalf of members. However, if you have any questions about either FCA regulation or FOS jurisdiction, please email David Hawkes, AdviceUK’s National Money Advice Co-ordinator, at .

More information can also be found on our FCA Frequently Asked Questions page and on the FCA Resources page in the For Members area of our website.

AdviceUK is authorised and regulated by the Financial Conduct Authority in respect of insurance mediation activities.

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FCA Proposes Changes to Complaints Handling Rules

Saturday, December 13, 2014

Following publication of the Thematic Review paper last month the FCA has issued a Consultation Paper CP14_30 titled ‘Improving complaints handling’.

The proposals are intended to change the way we deal with complaints and how they are reported.

The FCA state 'These proposed reforms will further improve the system, making it less bureaucratic for firms, easier for consumers and will provide us with improved intelligence on complaints.'

The proposed changes can be summarised as follows

The deadline for complaints resolved quickly will be extended to three working days from the existing one; Respondent firms must write to customers if the complaint is resolved in three days advising them they consider the complaint to be resolved and FOS rights and website; Complainants will be able to refer their complaint to the Financial Ombudsman Service immediately after receiving a firm’s response rather than having to wait 8 weeks; All complaints will have to be reported to the FCA; Complaints return is to be amended and simplified for those firms with fewer than 500 complaints; Firms will have to analyse complaint data and report causes and categories to the FCA; This data will be published; Firms cannot use ‘premium rate’ numbers for complaints; The FCA is considering a 15 year ‘long stop’ on complaints to FOS.

All firms should be aware of the proposed changes and we encourage feedback to the FCA as requested in CP14_30.

The Consultation paper can be found here .


Our View

All firms should be aware of the proposed policy changes.

Action Required By You

We recommend that you take the opportunity to respond to the Consultation Paper and influence policy before 13 March 2015. 

Read the Consultation paper; Respond to the Consultation paper as necessary; Prepare for the changes.    Print Article

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