FSA to shorten complaints and mediation returns

The move, published in the regulator’s Policy Statement today, follows a July 2007 consultation paper. With regards to the RMAR, the changes will include the removal of 'redundant' questions, and making mandatory certain questions that were previously optional. The FSA will shorten the volume of information firms must report through the complaints return and RMAR, which most firms submit every six months, by about 80% and 30% respectively. The regulator says this will reduce the administrative burden on firms and enable it to use the information more effectively to monitor and mitigat...