Related provisions for DISP 1.10B.13
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A respondent that has reasonable grounds to be satisfied that another respondent may be solely or jointly responsible for the matter alleged in a complaint may forward the complaint, or the relevant part of it, in writing to that other respondent, provided it: (1) does so promptly; (2) informs the complainant promptly in a final response of why the complaint has been forwarded by it to the other respondent, and of the other respondent's contact details; and(3) where jointly responsible
Schedule to the Recognition Requirements Regulations, Paragraph 92(1)The [UK RIE] must have effective arrangements for the investigation and resolution of complaints arising in connection with the performance of, or failure to perform, any of itsregulatory functions.(2)But sub-paragraph (1) does not extend to -(a)complaints about the content of rules made by the [UK RIE], or(b)complaints about a decision against which the complainant has the right to appeal under procedures of
In determining whether a UK recognised body has effective arrangements for the investigation and resolution of complaints arising in connection with the performance of, or failure to perform, any of its regulatory functions, the FCA3 may have regard to the extent to which the UK recognised body's resources and procedures enable it to:3(1) acknowledge complaints promptly;(2) make an objective, prompt and thorough initial investigation of complaints;(3) provide a timely reply to
In determining whether a UK recognised body's arrangements for the investigation of complaints include appropriate arrangements for the complaint to be fairly and impartially investigated by an independent person (a "complaints investigator"), the FCA3 may have regard to:3(1) the arrangements made for appointing (and removing) a complaints investigator, including the terms and conditions of such an appointment and the provision for remuneration of a complaints investigator; (2)
25Nothing in this appendix relieves firms of the obligation to consider the particular facts and circumstances of each complaint and to consider whether the assessment of loss and compensation should, in the light of those facts and circumstances, be carried out on a different basis. If, however, the facts and circumstances make it appropriate to do so, the FCA's expectation is that firms will apply the approach and standards set out in this appendix, and where they do not, the
(1) The Compulsory Jurisdiction covers complaints about the activities of a firm (including its appointed representatives) , of a payment service provider (including agents of a payment institution), 11 of an electronic money issuer (including agents of an electronic money institution),14 of a CBTL firm, 14of a designated credit reference agency12 or of a designated finance platform14 carried on from an establishment in the United Kingdom.77111211(2) The Compulsory Jurisdiction
This:517(1) includes incoming EEA firms, incoming EEAauthorised payment institutions6, incoming EEA authorised electronic money institutions818 and incoming Treaty firms; but(2) excludes complaints about business conducted in the United Kingdom on a services basis from an establishment outside the United Kingdom other than:13(a) complaints about collective portfolio management services provided by an EEA UCITS management company in managing a UCITS scheme; and 13(b) complaints
The Voluntary Jurisdiction covers only complaints about the activities of a VJ participant carried on from an establishment:517(1) in the United Kingdom; or(2) elsewhere in the EEA if the following conditions are met:(a) the activity is directed wholly or partly at the United Kingdom (or part of it);(b) contracts governing the activity are (or, in the case of a potential customer, would have been) made under the law of England and Wales, Scotland or Northern Ireland; and(c) the
The guidance in this appendix for step 1 applies in relation to complaints about sales whenever the sale took place.1 For complaints about sales that took place prior to 14 January 2005, a firm should take account of the evidential provisions in this appendix for step 1 1as if they were guidance.
A firm, including, in the case of 45collective portfolio management services for a UCITS scheme or an EEA UCITS scheme, a branch of a UK firm in another EEA State, a payment service provider or an e-money issuer,5 must keep a record of each complaint received and the measures taken for its resolution, and retain that record for:32(1) at least five years where the complaint relates to4collective portfolio management services for a UCITS scheme or an EEA UCITS scheme; and32(2) three
The scope of the Financial Ombudsman Service's two 37jurisdictions depends on:262637(1) the type of activity to which the complaint relates (see DISP 2.3, DISP 2.4 and DISP 2.5);(2) the place where the activity to which the complaint relates was carried on (see DISP 2.6);(3) whether the complainant is eligible (see DISP 2.7); and(4) whether the complaint was referred to the Financial Ombudsman Service in time (see DISP 2.8).
48The effect of section 234B of the Act is that where a person (a “successor”) has assumed a liability (including a contingent one) of another person who was, or would have been the respondent in respect of a complaint, the complaint may be dealt with by the Ombudsman as if the successor were the respondent.
At step 1, the3 aspects of complaint handling dealt with in this appendix are how the firm should:(1) assess a complaint in order to establish whether the firm's conduct of the sale failed to comply with the rules, or was otherwise in breach of the duty of care or any other requirement of the general law (taking into account relevant materials published by the FCA, other relevant regulators, the Financial Ombudsman Service and former schemes). In this appendix this is referred
3At step 2, the aspects of complaint handling dealt with in this appendix are how a CCA lender should:(1) assess a complaint to establish whether failure to disclose commission gave rise to an unfair relationship under section 140A of the CCA; and(2) determine the appropriate redress (if any) to offer to a complainant.
In this appendix:(1) (a) at step 1,3 “historic interest” means the interest the complainant paid to the firm because a payment protection contract was added to a loan or credit product;3(b) at step 2, “historic interest” means in relation to any sum, the interest the complainant paid as a result of that sum being included in the loan or credit product;32(2) "simple interest" means a non-compound rate of 8% per annum;3(3) "claim" means a claim by a complainant seeking to rely upon
To aid consumer awareness of the protections offered by the provisions in this chapter, respondents must:(1) publish appropriate information regarding their internal procedures for the reasonable and prompt handling of complaints;614614(2) refer eligible complainants to the availability of this information:614556145(a) 5in relation to a payment service, in the information on out-of-court complaint and redress procedures required to be provided or made available under regulations
12To the extent that it applies to an EMD complaint or a PSD complaint, the information specified in DISP 1.2.1R must be available in an official language of each such EEA State where the respondent offers payment services or issues electronic money, or in another language if agreed between the respondent and the payment service user or electronic money holder.[Note: article 101 of the Payment Services Directive]
The815 summary details concerning internal complaints handling procedures 815should cover at least:815(1) how the respondent fulfils its obligation to handle and seek to resolve relevant complaints; and(2) (where the complaint falls within the jurisdiction of the Financial Ombudsman Service)7 that, if the complaint is not resolved, the complainant may be entitled to refer it to the Financial Ombudsman Service.
16Where the Ombudsman is determining what is fair and reasonable in all the circumstances of a relevant new complaint or a relevant transitional complaint, the Ombudsman Transitional Order and the Mortgage and General Insurance Complaints Transitional Order require him to take into account what determination the former Ombudsman might have been expected to reach in relation to an equivalent complaint dealt with under the former scheme in question immediately before the relevant
7As a result of section 404B of the Act, if the subject matter of a complaint falls to be dealt with (or has properly been dealt with) under a consumer redress scheme, the Ombudsman will determine the complaint by reference to what, in the opinion of the Ombudsman, the redress determination under the consumer redress scheme should be or should have been, unless the complainant and the respondent agree that the complaint should not be dealt with in accordance with the consumer
Under the Ombudsman Transitional Order and the Mortgage and General Insurance Complaints Transitional Order, where the Ombudsman is dealing with a relevant complaint, he must take into account whether an equivalent complaint would have been dismissed without consideration of its merits under the former scheme in question, as it had effect immediately before the relevant transitional order came into effect.2929
The Ombudsman may dismiss a complaint413referred to the Financial Ombudsman Service before 9 July 2015 413without considering its merits if 413the Ombudsman413considers that:5(1) the complainant has not suffered (or is unlikely to suffer) financial loss, material distress or material inconvenience; or(2) the complaint is frivolous or vexatious; or(3) the complaint clearly does not have any reasonable prospect of success; or(4) the respondent has already made an offer of compensation
413The Ombudsman may dismiss a complaint referred to the Financial Ombudsman Service on or after 9 July 2015 without considering its merits if the Ombudsman considers that:(1) the complaint is frivolous or vexatious; or(2) the subject matter of the complaint has been dealt with, or is being dealt with, by a comparable ADR entity; or(3) the subject matter of the complaint has been the subject of court proceedings where there has been a decision on the merits; or(4) the subject
If a complaint is upheld and the policy is to be surrendered as part of the settlement, the firm should remind the complainant in writing that the life cover within the endowment will be terminated and that it may therefore be appropriate to take advice about the merits or otherwise of taking out a stand-alone life policy in substitution.2323
If a need for life assurance at inception has been established so that a deduction representing its cost has been made from the redress payable under DISP App 1.2.4 G, the firm should advise the complainant that the firm would be responsible for paying any premium for an appropriate replacement policy which exceeds that used for calculating the deduction or alternatively will, where possible, provide the cover itself at that cost. If it is not possible for the firm to provide
23One of the reasons for introducing the guidance in this appendix is to seek a reduction in the number of complaints which are referred to the Financial Ombudsman Service. If a firm writes to the complainant proposing terms for settlement which are in accordance with this appendix, the letter may include a statement that the calculation of loss and redress accords with the FCAguidance, but should not imply that this extends to the assessment of whether or not the complaint should
4The processes that a firm or CBTL firm7 should have in place in order to comply with DISP 1.3.3 R may include, taking into account the nature, scale and complexity of the firm's or CBTL firm’s7 business including, in particular, the number of complaints the firm or CBTL firm7receives:(1) the collection of management information on the causes of complaints and the products and services complaints relate to, including information about complaints that are resolved by the firm by
4Where a firm identifies (from its complaints or otherwise) recurring or systemic problems in its provision of, or failure to provide, a financial service, it should (in accordance with Principle 6 (Customers' interests) and to the extent that it applies) consider whether it ought to act with regard to the position of customers who may have suffered detriment from, or been potentially disadvantaged by, such problems but who have not complained and, if so, take appropriate and
The firm (or, where applicable, a successor) must as soon as reasonably practicable, and no later than 29 November 2017, send a written communication to the complainant which:(1) informs the complainant that, despite having already made a complaint in relation to the sale of a payment protection contract, they can make a further complaint against the CCA lender in relation to a failure to disclose commission;(2) makes clear the identity of the CCA lender, where this is known to
The obligation to send a written communication does not apply where, in relation to the relevant payment protection contract the firm, or where appropriate the Financial Ombudsman Service, has previously considered, or indicated to the complainant in writing that it will consider, a complaint on the basis of a failure to disclose profit share and/or commission.
12In practice, it is likely to be appropriate for a complainant whose complaint has been upheld to convert to a repayment mortgage, whether or not there is financial loss to date. It will normally be possible for complainants to do so without incurring unreasonable cost. Conversion will of course mean that the complainant no longer has a policy.
12Two sets of circumstances are examined at DISP App 1.4.3 G to DISP App 1.4.13 G. Although these are considered in isolation, firms should, as part of their investigation of all of the factors involved in the complaint, consider whether either set of circumstances should be considered in conjunction with those factors examined at DISP App 1.2.
12Example 9Example 9Term extends beyond retirement age: example of failure to explain investment risksBackground45 year old male non-smoker, having taken out a £50,000 loan in 1998 for a term of 25 years. Unsuitable sale identified on the grounds of affordability and complaint raised on 12th anniversary.It has always been the intention of the complainant to retire at state retirement age 65.Term from date of sale to retirement is 20 years and the maturity date of the mortgage
The purpose of this chapter is to set out rules and guidance on the scope of the Compulsory Jurisdiction and the Voluntary Jurisdiction, which are the Financial Ombudsman Service's two 816jurisdictions:816816(1) the Compulsory Jurisdiction is not restricted to regulated activities,715payment services6 , 9 issuance ofelectronic money, 715 and CBTL business 9 and covers:9(a) certain complaints against firms (and businesses which were firms at the time of the events complained about);816(b)
Relevant complaints covered by the Compulsory Jurisdiction comprise:414(1) relevant existing complaints referred to a former scheme before commencement and inherited by the Financial Ombudsman Service under the Ombudsman Transitional Order;(2) relevant new complaints about events before commencement but referred to the Financial Ombudsman Service after commencement under the Ombudsman Transitional Order;816(3) relevant transitional complaints referred to the Financial Ombudsman