DISP 1.4 Complaints resolution rules

Once a complaint has been received by a respondent, it must:

1. (1)

   investigate the complaint competently, diligently and impartially, obtaining additional information as necessary;

2. (2)

   assess fairly, consistently and promptly:

   1. (a)

      the subject matter of the complaint;

   2. (b)

      whether the complaint should be upheld;

   3. (c)

      what remedial action or redress (or both) may be appropriate;

   4. (d)

      if appropriate, whether it has reasonable grounds to be satisfied that another respondent may be solely or jointly responsible for the matter alleged in the complaint;

taking into account all relevant factors;

1. (3)

   offer redress or remedial action when it decides this is appropriate;

2. (4)

   explain to the complainant promptly and, in a way that is fair, clear and not misleading, its assessment of the complaint, its decision on it, and any offer of remedial action or redress; and

3. (5)

   comply promptly with any offer of remedial action or redress accepted by the complainant.

Where a complaint against a respondent is referred to the Financial Ombudsman Service, the respondent must cooperate fully with the Financial Ombudsman Service and comply promptly with any settlements or awards made by it.