The FCA and PRA have jointly published Consultation Paper FCA CP16/6 PRA CP5/16: Complaints against the Regulators (the Bank of England, the FCA and the PRA) (CP16/6).
The PRA, FCA and the Bank of England each operate a Complaints Scheme (the Scheme) to investigate complaints against them. Section 20 of the Small Business, Enterprise and Employment Act 2015 inserts new subsections 9A and 9B into section 87 of the Financial Services Act 2012. These new subsections require the investigator (the Complaints Commissioner) for the regulator’s Scheme to produce an annual report on his or her investigations. CP16/6 sets out the changes to the Scheme to implement the new legislative requirements.
The deadline for comments on CP16/6 is 9 March 2016.
View FCA and PRA consult on changes to financial services regulators’ complaints scheme, 11 February 2016