introduction of complaint form for customers of SFA-regulated firms

preparing for the new regime
We have recently introduced a complaints form for customers of firms regulated by the Securities and Futures Authority (SFA) to use if they submit a complaint to us. The use of the form brings the SFA Complaints Bureau into line with the other complaints-handling organisations that form the Financial Ombudsman Service, and is part of our preparations for when the Financial Services and Markets Act 2000 comes into force – expected by the end of November 2001.

complaints form
We hope that by standardising the information we require about complaints, the form will make it easier for firms to pinpoint the exact nature of the customer’s grievance. As the form also requires customers to specify how they would like the firm to put the matter right, it should enable us to identify at an early stage whether there is a realistic prospect of conciliation.

SFA-member firms wishing to obtain copies of our new leaflet for investors which explains how our new service works should contact: Giulio Casizzi on 020 7964 0524 direct fax 020 7964 0525.

further information
We recognise that the new framework for handling complaints brings with it some rules and procedures that will be new to SFA-member firms. If you would like us to visit your firm to talk about the new procedures, please contact Caroline Wells, our external liaison manager, on 0207 964 0648, or email caroline.wells@financial-ombudsman.org.uk