This overview is a guide to the Lexis+® UK Financial Services content within the Complaints against firms–financial services sub-topic, with links to appropriate materials.
The Financial Conduct Authority (FCA) regards the way in which a firm handles consumer complaints as a key indicator of that firm's approach to 'treating customers fairly'.
Since taking over from the Financial Services Authority (FSA) in April 2013, the FCA has reiterated its commitment to ensuring that regulated firms have adequate complaints handling procedures and has noted that complaints handling is at the heart of its consumer protection agenda. According to the FCA, it is vital that customers know that if something goes wrong, their complaint will be dealt with in a reasonable way by the firm and that they will get a fair outcome. See the FCA’s website pages on How to complain and Fair treatment of customers.
The FCA also requires that, in some circumstances, firms submit reports to the FCA about the complaints they have received and that firms publish complaints data. The FCA itself also publishes complaints data about the financial services...
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