Complaints Commissioner publishes responses

The Complaints Commissioner has:

  • ordered FCA to pay compensation (but of a very small amount – adding £250 to the £50 already offered by FCA) to a complainant whose application for authorisation ran out of time, despite multiple requests to FCA for updates as to its progress;
  • responded to an aggrieved complainant who had asked FCA for a definition of “legal mortgage”. FCA had referred to how the term is used in the Handbook but said it could not provide the definition and the enquirer should seek legal advice. The complainant called for FCA’s legal department and all management to be removed.  The Commissioner found that the real query had been what mortgages are regulated, which FCA had attempted to address. The complaint was not upheld.

Emma Radmore