FCA sets out plans to simplify complaints regime

In the new process, five separate existing complaints returns will be replaced by a single consolidated return. "This approach will simplify reporting for firms, reduce duplication, and support more consistent and comparable data collection," the regulator set out. "The improvements will improve data quality and strengthen consumer protection across the sector." Another feature of the new process is the requirement for firms to report complaints involving customers in vulnerable circumstances. The FCA said this will enable it to monitor outcomes for those at risk and ensure that fi...