Ask the expert: ‘I received a complaint from a client, what should I do?’


In the financial services industry, maintaining trust and confidence is paramount. 

When a firm authorised by the Financial Conduct Authority receives a complaint, it triggers a series of crucial steps aimed at resolving issues, improving processes, and upholding regulatory standards. 

In this article, I will outline the key actions and considerations for firms when dealing with customer complaints.

Acknowledgement and record-keeping

Upon receiving a complaint, the individual within the business responsible for complaint management should be notified. This is generally the compliance officer. 

At this point, an initial assessment will be carried out to determine if an immediate resolution can be made. Where this is possible, the complainant should be provided with a written summary of your findings and conclusion (summary resolution).

If this is not possible, the firm should provide the complainant with an acknowledgement of their complaint. Regulations stipulate that a prompt acknowledgement of the complaint be made, typically this is within five business days.



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