Complaints Handling - FCA Requirements

The ability of retail consumers to be able to complain to financial services firms is regarded as being of the utmost importance by the FCA.

It is therefore crucial for all firms to have transparent, efficient and effective complaints handling processes and procedures. This course will go through what the FCA expects a firm to have in place, as well as providing detail on the systems that govern complaints handling when a firm and a customer cannot agree and a matter is referred to the Financial Ombusdman Service.

Information on the Financial Services Compensation Scheme will also be provided

Learning Objectives

• To provide a thorough introduction to the FCA’s rules on the effective handling of complaints
• To encourage firms to adopt effective complaints handling measures which can increase consumer satisfaction
• To enable delegates to communicate key messages back to staff within their firm to ensure that complaints are dealt with appropriately

Course Content

Introduction

• What is a complaint
• The FCA definition
• Current FCA focus
• SYSC requirements
• FCA Objectives
• Treating Customers Fairly
• Measuring TCF
• Complaints Reporting

The Complaints Handling Process

• The Dispute Handling Sourcebook
• SYSC requirements
• Eligible Complainants
• Client Awareness of Complaints Handling Procedures
• Assessment and Resolution of Complaints by the Firm
• Time limit rules
• Forwarding rules
• Record keeping
• Complaints Reporting

Good & Bad Complaints Handling

• FCA Suggestions
• Good Complaints process
• Bad Complaints process
• The Customer Service Approach
• Do’s & Don’t’s
• A Professional Approach
• Dealing with difficult customers
• Body language
• Check lists
• Examples & case studies

The Financial Ombudsman Service

• When a complaint goes to the FOS
• FOS’s duties and obligations
• FOS’s powers
• Compensation
• Redress

The Financial Services Compensation Scheme

• Role of FSCS
• Powers of FSCS
• Compensation Limits

What Redcliffe’s clients are saying about the course

“Great trainer, clear materials and good examples”