A reminder of the new complaints return on GABRIEL

The FCA have introduced an updated complaints return, which firms will have to submit for reporting periods starting from 1 July 2016.

The FCA will continue to collect data on complaints twice a year, but will now ask firms to provide additional information on all complaints received, closed, upheld and redress paid, with different information requirements depending on the number of complaints being less or more than 500 in the reporting period.

The FCA has also made changes to the complaints publication report which firms who have reported more than 500 complaints must make available to the FCA.

We would advise that you familiarise yourself with the new complaints return and new publication report to be a step ahead and be fully prepared. The new reports should now be on your GABRIEL schedule and the templates reports can be found in DISP1 Annex 1.

 

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