FCA calls for help with complaint-handling and redress

With yet another mis-selling cleanup in process, this time in motor finance, the regulator has issued a Call for Input "to better identify and manage mass redress events to ensure better outcomes". The Financial Conduct Authority should take a hard look at its own role in these recurrences and avoid "regulation by lobby group" rather than expertise, warns Adam Samuel.

Adam Samuel BA LLM DipPFS MCISI FCIArb Certs CII (MP&ER) Barrister and Attorney may be contacted at adamsamuel@aol.com. You can purchase Adam's latest book 'Compliance - a Short Book' at www.amazon.co.uk/Compliance-Short-Book-Adam-Samuel-ebook/dp/B0CTRYBN1J/. For links to where you can buy the second edition of 'Consumer Financial Services Complaints and Compensation', see www.adamsamuel.com/writing.

The regulator's latest 'Call for Input on Modernising the Redress System' [1] betrays the traditional weakness of the regulator when dealing with complaints and compensation issues. The FCA has almost no complaint-handling experience except for its indifferent record of coping with grievances about itself. [2] This becomes very obvious when reading the document.