In accordance with the power conferred by The Financial Services and Markets Act 2000 (Transitional Provisions) (Ombudsman Scheme) Order 2001 ("the Order"), the FSA has made arrangements for the investigation of complaints:
arising in connection with the exercise before the commencement day of any functions conferred on the FSA by or under any enactment (other than the Act), or the failure to exercise any such function before commencement; or
The Order requires the FSA to ensure that the transitional complaints scheme complies with paragraph 7 of Schedule 1 to the Act and provides that the FSA may apply such provisions of paragraph 8 of Schedule 1 as it considers to be appropriate. The FSA has decided to apply most of the provisions of paragraph 8 so that, with suitable modification to take account of the different persons involved, the transitional complaints scheme will operate in substantially the same way as the complaints scheme which, going forward, provides a scheme for investigating complaints against the FSA in respect of its functions under the Act. One difference is that the transitional complaints scheme does not make provision for compensatory payments to be made to complainants.
Where the FSA is required to make a particular arrangement as part of the transitional complaints scheme, this is recognised in the following text by use of the word "must". In contrast, where a provision in the transitional complaints scheme states that someone "will" do something, this denotes that the FSA is committing itself or the Complaints Commissioner to some action which, though not specifically required, is nevertheless viewed as necessary to give effect to the intentions of the Act.1
Each provision in the transitional complaints scheme is, consistent with the style and format of the Handbook, identified by the letter "G". It nevertheless constitutes a definitive statement of the transitional complaints scheme which the FSA is maintaining.1
References in this transitional complaints scheme to the FSA's functions are references to its statutory functions (other than its legislative functions) arising in connection with the Financial Services Act 1986 and the Banking Act 1987 and functions conferred on the FSA by or under other enactments (other than the Act). References to the functions of PIA, IMRO or SFA are references to their functions arising in connection with the Financial Services Act 1986 (other than their functions of making rules and issuing guidance).
In this transitional complaints scheme:
"complaint" means any expression of dissatisfaction about the manner in which the FSA has carried out, or failed to carry out, its statutory functions (other than its legislative functions) and about the manner in which PIA, IMRO or SFA have carried out their functions arising in connection with the Financial Services Act 1986 (other than their functions of making rules and issuing guidance);1
"Financial Services Tribunal" means the Tribunal established under section 96 of the Financial Services Act 1986.