We thought it appropriate to issue a reminder about the SUP 15.12 notification requirements where, in a 12-month period, a Retail Investment Adviser has :
- Three or more complaints upheld; or where
- Redress for a complaint exceeds £50,000*
*The £50,000 includes all payments including goodwill, distress, inconvenience, interest etc.
These requirements are in addition to those in the regular GABRIEL complaints return. The rules can be found here.
Briefly, where one of the scenarios above occurs the firm must report, via Form G, to the FCA within 20 business days of the third complaint or the day the complaint was upheld, where redress is agreed. The reporting process and forms can be accessed via the link above.
Note, if the firm rejects a complaint and the FOS subsequently upholds it this must be included in the reporting requirements.
FCA expectations in relation to remote or hybrid working
Alistair MacDougall Compliance Call Recording, COVID-19, FCA, PI, protected, protection, recording, Register, Senior Manager, training
The coronavirus (Covid-19) pandemic has resulted in many firms adopting remote working for some or all employees. Indeed, some of you reading this article right now might well be in a kitchen or home office, in permanent dress down mode (remember when that only happened on the last Friday of the month?) and perhaps even […]