Effective FCA Complaints Handling & Procedures: Ensuring Compliance and Excellence

This presentation outlines the key elements of FCA complaints handling and procedures, emphasizing the importance of an effective internal complaints process. It covers the requirements for prompt acknowledgment and response, the role of root cause analysis in preventing future complaints, and the necessity of aligning written procedures with firm actions. The presentation also highlights the significance of staff training and continuous improvement to maintain compliance and avoid FCA enforcement actions.

1. Introduction to FCA Complaints
Handling
Overview of FCA's requirements for complaint
handling.
Importance of an effective complaints process.
Requirement for prompt acknowledgment and
response within 8 weeks.
Role of the Financial Ombudsman if the complaint
is unresolved.

2. Internal Complaint Handling Process
Key steps in the internal complaints process.
Issuing a final response within 8 weeks.
Steps for escalating unresolved complaints to the Financial
Ombudsman.
Importance of assisting the Ombudsman and complying with
decisions.

3. Root Cause Analysis
Importance of root cause analysis in complaint handling.
Conducting root cause analysis to prevent future
complaints.
Integrating root cause analysis into the firm’s systems and
controls.
Consequences of non-compliance, including potential FCA
enforcement actions.

4. Designing and Reviewing Complaints
Procedures
Essential elements of effective complaints procedures.
Reviewing or designing the overall complaints process.
Aligning written procedures with firm actions.
Importance of supporting documents like templates
and summary procedures.

5. Training and Continuous Improvement
Ensuring staff are well-trained and processes are continuously improved.
Staff training for implementing new or revised procedures.
Conducting root cause analysis workshops to identify weaknesses.
Continuous monitoring and updating of complaints procedures for
compliance.

6. CONTACT US
[email protected]
03301330811

Suite 1810, Unit 3a,34-35 Hatton Gardens, Holborn, EC1N 8DX
https://www.memaconsultants.com/

7. THANK YOU