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I should know but I don&#39t

Q: I am laying down my firm&#39s complaints-handling procedure. What are the main points I should consider?

A: Last week&#39s answer covered some of the core aspects of the incoming complaints regime and the relevant FSA Handbook sections (DISP). Under these rules, firms will have to maintain a system that ensures:

• Complaints are dealt with by an individual who was not involved with the cause of the complaint, and is sufficiently senior within the firm (unless a sole trader).

• The individual responsible for writing the firm&#39s final response to a complainant has sufficient authority to do so.

• The firm&#39s response sufficiently addresses the subject of the claim and, if upheld, offers appropriate redress.

In addition to these points, firms must take reasonable steps to ensure all employees who participate in the mortgage advice and arrangement process are aware of internal complaint handling procedures. Firms should also ensure their complaints processes are sufficient to deal with cases &#39fairly, consistently and promptly&#39.


Kensington Mortgages launches £700m securitisation

Kensington Mortgages has launched its latest £700m mortgage-backed securitisation. Kensington says the transaction was fully subscribed as demand was high and price tightened from early indications. Residential mortgage securities 18 plc (RMS 18) was priced on June 28 2004. The £700m transaction is the second Kensington securitisation in 2004. Pricing continued the improving trend seen […]

Online auction bids flood in for Beckham&#39s boot

The highest bid so far for the replica Adidas football boot – the type Beckham wore when he scored that penalty against Argentina in World Cup 2002 – signed by the player himself is now £940. You still have a chance to get your hands on this extraordinary memento, which has been box-framed along with […]

Be wary of network deals, brokers told

In an interview with Mortgage Strategy Hogarth, one of the founders of the support services group, voiced his concerns over the concept of appointed representative status. Hogarth says: “I am worried about people joining networks because they are attracted by the price and think they have found a safe home. They will get themselves into […]

Zurich to hold roadshows in summer

Throughout the summer, the Zurich Mortgage Network and Zurich Advice Network will be joining forces to hold a series of roadshows for members, designed to help advisers andintermediaries find out more about potential business opportunities inadvance of Mortgage Day. Topics covered will include regulation, distribution and the Zurich mortgage proposition. The national roadshows take place […]

Johnson Fleming is a finalist at UK Pensions Awards 2016

The UK Pensions Awards shine the light on excellence and recognise the advisers, providers and investment managers that offer the highest level of innovation, performance and service to occupational pension schemes and their members. This year’s awards looked at advisers and providers across 31 different categories and were rigorously judged by a panel of senior […]


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