The changes aim to consolidate five existing returns into a single return to minimise the reporting burden with over 41% of firms currently submitting multiple complaints reforms.
Brian Nimmo, Head of Redress at Broadstone, said: “The changes announced today by the FCA should eliminate unnecessary burden on firms while improving the ability of the regulator to monitor and tackle consumer harm.
“Accurate and timely data is critical to helping the regulator analyse where sectors or individual firms are falling short and require closer scrutiny. The changes are integral to the achieving FCA’s objectives of improving outcomes, reducing the regulatory burden and the fair treatment of consumers. Any measures that help meet these criteria are to be welcomed.”
https://www.fca.org.uk/publications/consultation-papers/cp25-13-improving-complaints-reporting-process
|
