Learning objectives
- Recognise complaints and the importance of dealing with them appropriately
- Understand the manager's role in ensuring that complaints are handled compliantly
- Recognise how the Firm may receive complaints
- Know the procedure for handling complaints
- Follow the rules and etiquette for handling complaints
- Understand the role of the FOS
Welcome
Introduction
- Expression of dissatisfaction
- Eligible complaints
- Complaints handling
- Exercise: Complaints handling
General requirements
- Scenario: General requirements
- Requirement to inform
- Dealing with the complaint
- Scenario: Dealing with the complaint
- Redress
- Systems & controls
- Scenario: Systems & controls
- Time limits, record keeping & reporting
- Rejecting a complaint
- Categorising complaints
- Exercise: General requirements
Time limits for dealing with a complaint: Acknowledgement
- Progress
- Final response
- Responses earlier than eight weeks
- Speed & quality of response
- Exercise: Time limits
Monitoring complaints
- Scenario: Monitoring complaints
Record keeping & reporting
- Internal reporting
- Six-monthly reports to the FCA
- Exercise: Record keeping
Role of the FOS
- Formal & informal settlements
- Scenario: Formal & informal settlements
- Completely independent
- Exercise: Role of the FOS
Summary
Affirmation
Assessment
Economic Sanctions
Violation of sanctions issued by the UN, the US and the EU which place restrictions on payments and other financial transactions can result in fines as well as criminal charges.