Financial Ombudsman Service, Financial Services Authority and the Office of Fair Trading Consumer complaint (emerging risks and mass claims): Feedback on DP10/1

• From the March 2011 “In Summary Newsletter”: “We – the Financial Services Authority (FSA), the Office of Fair Trading (OFT) and the Financial Ombudsman Service (the ombudsman service) – are publishing a Feedback Statement, setting out how we intend to strengthen our coordination on complaints handling in the financial services industry, and our response to the feedback we received to last year’s Discussion Paper (DP) on this topic. Since the paper covers how firms handle complaints, it could be of interest to all financial services firms, as well as their trade associations. It is also of interest to consumer groups. Inadequate complaints handling remains a major issue. If we are to rebuild consumer confidence in the financial services industry, complainants must be treated fairly, and risks must be identified and dealt with before they turn into widespread problems.”
• FSA/OFT/FOS Coordination Committee
• Memorandum of Understanding between the Claims Management Regulator and the Financial Services Authority
• FSA Handbook