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LLD 7.4 Information about complaints

LLD 7.4.1G

Within one month of the periods ending June and December in each calendar year, the Society should give the FSA a report containing the following information:

  1. (1)

    the number of complaints received from members and former members during that period involving allegations that the complainants have suffered, or may suffer, financial loss, material distress or material inconvenience;

  2. (2)

    a summary of the nature of these complaints;

  3. (3)

    the number of these complaints resolved or rejected;

  4. (4)

    the amount of money paid to each complainant referred to in (1) as redress and any other form of redress made; and

  5. (5)

    the number of these complaints which have been referred to the Lloyd's Arbitration Scheme, the Lloyd's Members' Ombudsman or any other independent dispute resolution scheme that may replace either of these schemes.

LLD 7.4.2G

For the purposes of the report referred to in LLD 7.4.1 G, "complaints resolved" include complaints where the Society has completed its consideration of the complaint and either knows the complaint has been resolved to the complainant's satisfaction or has no reason to suspect otherwise.