All Guidance

Complaints Management in a Regulated Environment

The Financial Conduct Authority (FCA)'s Consumer Duty regime brings a significant change in how regulated firms need to operate. Below, we address Frequently Asked Questions (FAQs) to support members through this process. Contact the team directly if you require further assistance.

Following the application of the Senior Managers and Certification Regime to the banking sector in 2013, from the 9 December 2019 the SM&CR became enforceable for all FCA solo-regulated consumer credit firms, replacing the Approved Persons Regime.

The Financial Conduct Authority (FCA) is preparing to launch an industry-wide redress scheme aimed at compensating consumers affected by historic unfair motor finance practices. This marks a significant regulatory intervention, with wide-ranging implications for Firms across the sector. While the concept of a redress scheme will be covered in a separate document (link at the bottom of this page), we have asked Luis Hernandez at S&W Partners to prepare some insights which focus on the practicalities, expected scope, and what Firms should be doing now to prepare for the scheme when it comes.