The FCA have set out the new rules which will improve complaint reporting across the industry. There is a 12-month implementation period with the first new style return covering the period 01/01/2027 to 30/06/2027.
The implementation period will allow firms to make any necessary changes to IT systems, train employees and put any other necessary changes in place.
For firms, the FCA expect that the changes will lead to more meaningful use of complaints data to drive internal improvements and allow for greater accountability at individual firm level . . .
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