We are delighted to provide you with another session to engage directly with the regulator.
Join the FCA and TPA policy team on September 27th between 11.00 – 12.00 BST. The FCA has requested us to reconvene members to discuss the Complaints Reporting Review in a second session as a continuation from the session held on 4th July.
The purpose of this further engagement meeting will be to focus on the FCA’s updates regarding improvements to complaints reporting process, and it’s important you join and have your say.
Background
Complaints Reporting Review: Scope of the project
The FCA is undertaking a comprehensive review of the complaints reported by regulated firms. The focus is on the returns themselves and not on the firms that report complaints.
Reasons for the Review
Complaints are reported by firms across a number of different returns (the main one being DISP 1, though there are several others). Some firms may currently complete several returns at different intervals (6-monthly and annually). This can present challenges to the firms providing their complaints data, and to the FCA in seeking to understand the complaints data that firms have provided, for example:
Potential areas for improving complaints reporting
The FCA is considering ways in which to tackle the issues above and would welcome firms’ input on their experience of the existing complaints reporting system and on what changes we may want to make, including:
What input does the FCA need from industry?
The FCA would value support from firms to help shape the future of complaints reporting. The FCA are hoping TPA members’ firms will have useful insights to share that can be incorporated into the reporting process and can provide feedback as the FCA’s proposals develop. The FCA has asked TPA to organise this further roundtable of their members to facilitate further feedback