Information for Providers

What a FSP is expected to do

  • Provide a formalised complaints handling process which is easy to access and which all staff should be aware of. The process should be appropriate to the size of the organisation
  • Nominate a senior member of staff responsible for ensuring that the complaints handling process works in a fair and proper manner.
  • When a complaint is received it should be dealt with expeditiously.
  • The Complainant must also be informed that he/she has a right to complain to the Ombudsman- terms of business letter to outline this.
  • Take all reasonable steps to resolve the matter before it is referred to the Ombudsman.
  • Keep robust records to memorialise the Complainants handling process.

Ensure that

  • Compliance officer’s role is of particular importance.
  • The Complaints handling procedure is a senior level responsibility but all staff should be aware of and operate it.
  • The Ombudsman is a last resort for a complainant.

Memo to Providers regarding the outsourcing of activities and reporting in accordance with the Central Bank (Supervision & Enforcement) Act, 2013