Telephone 020 3813 2890 for a free no obligation chat about your regulatory requirements with one of our compliance consultants.
Registered in England and Wales as limited company number 07626537 - Registered Office 120 Pall Mall, London, SW1Y 5EA
Here to help with Regulation and Compliance
Reminder: Changes to Complaints Handling & Reporting
16th June 2016
Complaints Handling & Reporting Requirements are Changing
There are just two weeks to go until the new Complaints Handling Rules take effect this month from 30th June 2016.
Following the publication of the revisions to the Complaints Handling rules last July in Policy Statement PS15/19: Improving complaints handling and the final rules, with effect from the last day this month, firms will have to have in place new policy and procedures for dealing with complaints.
In addition, firms will have to be able to accurately record complainant data ready to submit a complaints return to the regulator every six months.
Whilst the New Complaints Reporting rules will come into effect for reporting periods from 30th June 2016, it is expected that first submissions of these reports will be due in Gabriel to the regulator by early February 2017.
In addition, firms with 500 or less complaints in a reporting period will be able to complete a shortened complaints return whilst those without any complaints will be able to submit a Nil Return.
Since all regulated firms must have a complaints handling process in place, the new rules will affect all types of firm across the financial services.
If you are unsure of your regulatory requirements with regards to Complaints Handing or the new Complaints Reporting requirements and would like more information or assistance, please get in touch with our experienced Regulatory Support team.
Read our latest articles, news and views affecting compliance and regulation in the UK Financial Services Industry.
Please contact our Compliance Support Team for a free no obligation discussion about your requirements if you’d like to discuss how our regulatory & compliance consultants can help your business move forward compliantly.
Call by Telephone:
(020) 3813 2890
Changes to Complaints
The new Complaints Reporting & Handling Rules take effect.