The Training Environment For Financial Services

Complaint Handling under DISP

11 Dec 2019, London

9:00am to 5:00pm

Outine & Objectives

The Financial Conduct Authority's complaint rules (DISP) are fiddly, easy to break and regularly changing (having undergone significant revisions in 2015 and 2016) and need to be a central feature of every business' complaints procedures.

Complaints can help firms learn about their customers, processes and staff and offer an opportunity to put things right which they would not have otherwise. With FOS upholding over half the complaints made to it in 2015//2016, this is unfortunately an opportunity many firms are failing to embrace.

This practical course will help you know your way around both the complaints rules and "best practice", set up and use the complaints process effectively, optimise your chances of keeping your customers and maintain your reputation with the public, the Ombudsman and the regulator.

Specifically, attending will help you:

  • Update and refresh your knowledge of the regulatory framework for complaints including DISP, relevant FCA principles and FOS rules, and examine how they apply in practice
  • Benchmark your complaint processes against FCA expectations and industry best practice, from identifying complaints to final responses
  • Know how to achieve good relations, and outcomes, with FOS
  • Make better use of Root Cause Analysis and complaint MI
  • Demonstrate the effectiveness of your monitoring and governance framework for complaints

Who will benefit?

This course will be of value to those responsible for the handling, monitoring or oversight of complaints, including Complaints, Customer Services, Operations, Compliance, Conduct, Legal and Internal Audit professionals.

Workshop Presenter

Adam Samuel is a compliance specialist and lawyer who has spent much of the last 20 years training and advising firms from major banks to small one-man firms on complaint handling. Qualified as a lawyer on both sides of the Atlantic and proud holder of an AFPC, the MAQ and CISI compliance diploma, Adam wrote the only major book on financial services complaint handling in 2005 and is in the process of producing a new one. His expert evidence on investment risk and compliance has been accepted by the English High Court and the Gibraltar Supreme Court.

Workshop Programme

Session Content
  • Objectives of training and complaints handling
  • FCA, FOS rules and materials
  • FCA Principles 1, 2, 6, 7, 9 and 11 in complaint handling
  • Treating Customers Fairly outcomes and complaints
Before complaints are received
  • Preparing and updating the procedures
  • Summary details and disclosure at the point of sale
Identifying Complaints
  • Definition of complaints and the limits of DISP
  • End of next (three) business day(s) rule
  • Record-keeping and reporting responsibilities
  • Acknowledgement
  • Need for independence
  • Obtaining authorities
  • Obtaining the version of events of all people involved
  • Relationship between discipline and investigations
  • 8 week and keep-in-touch letters
Relevant rules on deciding cases
  • Grounds for upholding complaints and the FOS Technical Resource
  • Calculation of compensation, interest and tax
Final Response
  • Regulatory requirements - standards and letter form
  • Structure and live demonstration of the letter
  • Dealing with obstructive customers
Financial Ombudsman Service
  • Jurisdiction & FOS’ powers
  • FOS procedure
  • Time-limits for complaining

Root cause analysis and MI
  • DISP 1.3 rules
  • Techniques for root cause analysis
  • Reporting and recording
Systems and controls
  • Risk management, three lines of defence
  • Competent employee rule

This course can be delivered in-house at a time and location to suit your business and tailored to suit your people and organisation. We can also create bespoke training when something very specific is needed.Please contact us to discuss your requirements in more detail and at no obligation.

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