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- Product code: 22107
- ISBN: 1898830991,
ISBN13: 9781898830993,
638 pages, paperback
Published by City & Financial Publishing on 2005
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Description of Consumer Complaints and Compensation |
"The Financial Services Authority (FSA) has today fined... for serious flaws contained in its procedures for handling mortgage endowment complaints, which exposed a large number of its customers to potential loss. The flaws identified occurred..."
- FSA Press Release
Of the vast array of personal finance issues affecting consumers in recent years, two in particular have generated more column inches than most - the misselling of endowments and pensions.
With the FSA handing out fi nes in excess of half a million pounds and insisting on firms pro-actively reviewing vast numbers of past cases, retail financial services firms must understand the complaints and compensation rules. For smaller fi rms regulated by the FSA's and those affected by N4 it is vital that they clearly comprehend the policy to ensure that they do not generate complaints and know how to respond if they receive one. This title will examine the compliance and redress regime for misselling, administration and claims problems with a practical emphasis on complaint handling, borne of the author's experience as a consultant and trainer. Why read this book The FSA has started to take enforcement actions against firms who fail to handle complaints or to treat their customers fairly.
This book will serve as an easy to use guide to the complaints sourcebook for the smaller IFA. For larger firms and their professional advisors it will act as an effective reference book enabling the reader to rapidly refresh their understanding of the rules and "best practice" procedures. Complaints and Compensation: A Guide for the Financial Services Market will ensure that you are not caught up in the fall-out from a variety of misselling and administration issues, or if you are, that you are in a sound position to handle the consequences.
Who should read this book?
- Compliance offi cers, directors
- Marketing and customer relations departments
- Life insurance, investment and pension companies
- IFAs, banks, credit unions
- Insurance and mortgage brokers
- Outsource fi rms offering either complaint handling or administration services
- In-house counsel
- Accountants
- Lawyers
- Compliance consultants
- Actuarial firms
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Contents of Consumer Complaints and Compensation |
1. Introduction - developing the complaints culture
2. The rules to be applied
3. Sales complaints - deciding whether a firm is liable
4. Deciding whether the firm is liable: endowments
5. Deciding whether the firm is liable: pensions
6. Deciding whether the firm is liable: savings, investments and whole of life policies
7. Avoiding liability
8. Administration and other service complaints: deciding whether the firm is liable
9. Compensation - the basic principles
10. Compensation for mortgage endowment misselling
11. Compensation for pension misselling - part one
12. Pension compensation part two - practical applications
13. Compensation for administration complaints
14. Claims - life and general insurance
15. The scope of the FSA complaint rules (DISP)
16. The complaints procedure
17. Identifying complaints
18. Acknowledgement
19. Investigating complaints
20. The final response
21. Closing the case
22. The Financial Ombudsman Service
23. Disciplinary action and other dispute resolution options
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About Adam Samuel |
Adam Samuel is an expert in two main areas: Consumer fi nancial services - compliance, complaint handling, pension and other business review work, and international and domestic dispute resolution law and practice.
Currently he is an independent consultant providing services on complaint handling, pension review, compliance and international dispute resolution as well as acting as the Independent Investigator for the Institute of Financial Planning's Disciplinary Committee.
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