House of Commons
FINANCIAL CONDUCT AUTHORITY CONSULTATION ON THE FINANCIAL SERVICES INDUSTRY AND SMEs
EDM #1162
Tabled 16 April 2018
2017-19 Session
That this House recognises the progress of discussions on the financial services industry involving the Financial Conduct Authority (FCA), HM Treasury and small and medium-sized enterprises; welcomes the current FCA review and launch of the CP18-3 consultation paper following the backbench business debate on RBS Global Restructuring Group held on 18 January 2018; notes with special reference Q4 within the FCA Consultation (CP18-03) which asks about the date of coming into force for changes introducing small businesses as eligible complainants and such changes only applying to complaints made to a firm regarding acts or omissions of the firm which occur from 1 December 2018; further notes that the FCA has the powers and sets the rules on how the Ombudsman should handle complaints further; notes that the jurisdiction of that service is published as part of the FCA's handbook, in the section called Dispute Resolution (DISP) rules: complaints and that DISP 2.8.2 is found within Chapter 2; and asserts that the FCA must add with immediate effect a clause (C) stating that if the complainant brought their complaint to an hon. Member at any time from 1 September 2007 to 21 April 2018 and has a written acknowledgment or some other record of action on the complaint, from that hon. Member during that period, to ensure that the FCA cannot ignore past banking victims.