The FCA has published a policy statement on improving complaints handling.

The policy statement contains the FCA’s response to the feedback it received on its consultation paper published in December 2014 as well as the new rules. The new rules include the following requirements:

• extension of the “next business day rule” to three business days;
• reporting all complaints, including those handled by the close of three business days after the firm receives them;
• raising consumer awareness of the ombudsman service by sending a “summary resolution communication”;
• limiting the cost of complaints calls for customers; and
• sending the FCA data twice a year on the number of complaints received.

Copies of the

• policy statement, http://www.fca.org.uk/static/documents/policy-statements/ps15-19.pdf
• press release and http://www.fca.org.uk/news/fca-finalises-rules-on-complaints-and-call-charges
• Handbook instrument   http://media.fshandbook.info/latestNews/FCA_2015_39.pdf