Firms are reminded of the requirement to notify the FCA in either of the following situations.
- in any 12 month period, three complaints are upheld* against any individual adviser
… notification must be made within 20 business days starting on the day
on which the third complaint was upheld; - if a complaint is upheld* against any individual adviser, where the redress paid exceeds £50,000
… notification must be made within 20 business days starting on the day
on which the complaint was upheld.
The relevant rule is SUP 15.12.
![iStock-1459005346 [Converted]](https://news.ateb-group.co.uk/wp-content/uploads/2024/01/iStock-1459005346-Converted-250x230.png "iStock-1459005346 [Converted]")
Doesn’t time fly?
Paul Jay Compliance complaints, email, FCA, Register
Yes, believe it or not, as this article lands in your inbox it’s six months since Consumer Duty went live. Time really does fly when you’re having fun (what do you mean, this isn’t fun?) and in another six months from now the second phase of CD, covering closed products, comes into effect. More […]