The government has named the first bodies to have applied for the 'super complainant' status, a legal tool which will allow them to force the regulator into swift action over failings in the financial services sector.
The first four bodies wanting to become 'super complainants' have been named as the Citizens Advice Bureau, consumer association Which?, the Consumer Council Northern Ireland and the Federation of Small Businesses. Super complainants will be able to present evidence of failings in the financial services industry to the regulator and force it into action within 90 days. Super complaints could previously only be made to the Office of Fair Trading, but the Financial Services Act 2012 made it possible to complain to the regulator directly. The complaints will typically focus on market ...
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