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[1] [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 [email protected] by 8 March 2016.
Find out more
See our pages complaining about us[2].