DISP 1.4 Time limits for dealing with a complaint

A firm must send a written acknowledgement of a complaint to the complainant3 within five business days of its receipt, giving the name or job title of the individual handling the complaint for the firm (together with details of the firm's internal complaint handling procedures).

1DISP 1.4.4 R to DISP 1.4.6 R do not apply if the complainant has already indicated in writing acceptance of a response by the firm, provided that the response informed the complainant how to pursue his complaint if he remained dissatisfied.

A firm must, within four weeks of receiving a complaint, (unless DISP 1.4.3A R1 or DISP 1.4.9 R applies) send the complainant either:

1. (1)

   a final response; or

2. (2)

   a holding response, which explains why it is not yet in a position to resolve the complaint and indicates when the firm will make further contact (which must be within eight weeks of receipt of the complaint).

Where, within eight weeks of receiving a complaint, the firm sends the complainant a written response which:

1. (1)

   offers redress (whether or not it accepts the complaint) or rejects the complaint and gives reasons for doing so;

2. (2)

   informs the complainant how to pursue his complaint with the firm if he remains dissatisfied;

3. (3)

   refers to the ultimate availability of the Financial Ombudsman Service if he remains dissatisfied with the firm's response; and

4. (4)

   indicates that it will regard the complaint as closed if it does not receive a reply within eight weeks;

the firm is not obliged to continue to comply with DISP 1.4.4 R or DISP 1.4.5 G unless the complainant indicates that he remains dissatisfied, in which case, the obligation to comply with DISP 1.4.5 G resumes.

If the complainant takes more than a week to reply to a written response of the kind described in DISP 1.4.9 R, the additional time in excess of a week will not count for the purposes of the time limits in DISP 1.4.4 R - DISP 1.4.6 R.

When a firm sends a complainant its final response, the final response must:

1. (1)

   inform the complainant that he may refer the complaint to the Financial Ombudsman Service if he is dissatisfied with the final response and that he must do so within six months; and

2. (2)

   enclose a copy of the Financial Ombudsman Service's explanatory leaflet (unless it has already done so under DISP 1.4.5 G(2)(b)).

DISP 1.4.1 R to DISP 1.4.14 G and DISP 1.5.1 R and DISP 1.5.4 R do not apply where the complaint is subject to a review directly or indirectly under the terms of the policy statement for the review of specific categories of FSAVC business issued by the FSA on 28 February 2000.

Where DISP 1.4.15 R applies, the firm must, if the complainant remains dissatisfied on completion of that review, treat that expression of dissatisfaction as a complaint and comply with DISP 1.4.1 R, DISP 1.4.14 G, DISP 1.5.1 R and DISP 1.5.4 R.

1. (1)

   3A firm which has reasonable grounds to be satisfied that another firm may be solely responsible for the fault alleged in a complaint may refer the complaint to that other firm, but if it does so it must:

   1. (a)

      refer the complaint promptly and in any event within five business days of the date on which it became satisfied that such other firm may be responsible for the subject matter of the complaint;

   2. (b)

      make the referral using a durable medium; and

   3. (c)

      inform the complainant of the referral by way of a final response and include the other firm's contact details.

2. (2)

   3A firm which has reasonable grounds to be satisfied that another firm may be jointly responsible for the fault alleged in a complaint, may refer the complaint to that other firm but if it does so it must:

   1. (a)

      refer the complaint promptly and in any event with five business days of the date on which it became satisfied that such other firm may be jointly responsible for the subject matter of the complaint;

   2. (b)

      make the referral on a durable medium;

   3. (c)

      at the same time inform the complainant of the referral and include the other firm's contact details; and

   4. (d)

      comply with the obligations in DISP as to the investigation of that part of the complaint that is the firm's responsibility and, as soon as possible, inform the complainant of the outcome by a final response.

3When a firm receives a complaint referred to it under DISP 1.4.18 R, the complaint is treated for the purposes of DISP as if made directly to that firm, and as if received by it when the referral was received.