FCA has published an exchange of letters with FOS on how firms have been dealing with complaints handling during the pandemic. As it has previously stated, firms have had enough time now to embed new ways of working, and FCA sees no reason that they cannot comply as normal with their obligations under its complaint handling rules. Its key priorities remain:
- that relevant senior managers should ensure firms prioritise prompt payouts and resolution of complaints from vulnerable customers;
- that firms maintain the quality of complaint handling;
- that CMCs should allow firms enough time to address complaints;
- how FOS will use FCA’s guidance when determining complaints; and
- how CMCs should keep their clients up to date