The UK financial watchdog plans to consult on extending the time finance firms have to respond to consumer complaints involving non-discretionary commissions and granting consumers more time to escalate these complaints to the Financial Ombudsman Service.
“We’re acting swiftly to address concerns raised by the Court of Appeal’s recent ruling,” the Financial Conduct Authority (FCA) announced this week.
Expected to publish proposals within two weeks, the FCA is aiming for a mid-December implementation of this extension, should it be adopted.
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Aimee Turner
Deputy editor
AM deputy editor Aimée Turner has been a specialist B2B editor and journalist covering the international transportation sector for more than 20 years.
She has specialised in the significant safety, regulatory, and environmental issues that impact advanced technology businesses in the pursuit of more efficient, safer and sustainable transportation modes.
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