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The Financial Conduct Authority are proposing changes to the way finacial firms handle consumer complaints.

 

The main proposals are;

 

* Financial services firms will no longer be able to use premium rate telephone numbers for customers as part of a series of proposals

 

* Is now proposing to extend period during which complaints can be resolved without need for a formal letter

 

* In addition, complainants will be able to refer all cases to ombudsman service immediately after receiving firm's response

 

* Proposes to improve transparency by requiring firms to report all complaints to FCA, not just those where final response letters are issued

 

 

http://www.fca.org.uk/news/cp1430-improving-complaints-handling

 

 

They want to know what you think of their proposals and would welcome comments using the online response form by 13 March 2015

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The Financial Conduct Authority are proposing changes to the way financial firms handle consumer complaints.

 

The main proposals are;

 

* Financial services firms will no longer be able to use premium rate telephone numbers for customers as part of a series of proposals

The OFT guidance should have stopped the use of numbers costing more than the national geographic rate from 2011 but most have claimed that they are not premium rate numbers and continued with 0845 and 0870 numbers. A complaint to Link caused them to change to an 0844 number this year.

For debt collection activities this is already covered in the FCA's Consumer Credit Sourcebook CONC 7.9.5 states:

A firm must not require a customer to make contact on a premium rate or other special rate telephone number the charge for which is higher than to a standard geographic telephone number.

[Note: paragraph 3.3l of DCG]

This means that even the 0800 numbers should be accompanied by an 03xx number as calls from mobiles to 0800 numbers cost more than the standard rate and are often not included in call packages.

Even the Financial Ombudsman appears to be unaware of this:???:

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