Complaints against regulators—financial services

This overview is a guide to the Financial Services content within the 'Complaints against regulators–financial services' sub-topic, with links to appropriate materials.

Complaints against the regulators

Part 6 of the Financial Services Act 2012 (FSA 2012) requires the Bank of England (BoE), the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), together known as the 'regulators', to make arrangements for the investigation of complaints against them. These arrangements are known as the ‘Complaints Scheme’, as set out in detail in the FCA and PRA/BoE joint publication ‘Complaints against the regulators: The Complaints Scheme’ (updated March 2016). There are two distinct stages to the Complaints Scheme:

•
investigation of the complaint and, if necessary, resolution by the relevant regulator
•
investigation by the Financial Regulators Complaints Commissioner (the Complaints Commissioner) if the complainant is not satisfied with the progress, or the result, of the first stage investigation

The Complaints Commissioner heads

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Financial Services News

BoE conducts first system-wide stress test

The Bank of England (BoE) has published its final report on their system-wide exploratory scenario (SWES) exercise, which explores how the UK financial system would respond to a market shock. It is the first exercise of its kind globally, and aims to enhance understanding of the risks from non-bank financial institutions (NBFIs) and how their behaviours can amplify shocks in markets core to UK financial stability.

IOSCO publishes final report on regulatory implications of evolving market structures

The International Organization of Securities Commissions (IOSCO) has published its final report on the evolution in the operation, governance, and business models of exchanges. IOSCO has outlined six good practices for regulators to consider in the supervision of exchanges, covering three key areas: organisation of exchanges and exchange groups, supervision of exchanges and trading venues within exchange groups, and supervision of multinational exchange groups. The report also includes a non-exclusive list of supervisory tools, presented as ‘toolkits’, to assist IOSCO jurisdictions in addressing relevant issues.

Financial Services—other developments (29/11/2024)

A round-up of other developments, which have not been covered in full by the LexisNexis Financial Services practical guidance team but may nevertheless be of interest.

BoE’s FPC warns that global risks remain high as it publishes financial stability report

The Bank of England's (BoE) Financial Policy Committee (FPC) has published its financial stability report, setting out the FPC’s view on the stability of the UK financial system and the actions it is taking to remove or reduce any risks to it.

View Financial Services by content type :

News