Financial Services and Markets Act 2000

Authority’s procedural rulesU.K.

13(1)The Authority must make rules providing that a complaint is not to be entertained unless the complainant has referred it under the ombudsman scheme before the applicable time limit (determined in accordance with the rules) has expired.

(2)The rules may provide that an ombudsman may extend that time limit in specified circumstances.

(3)The Authority may make rules providing that a complaint is not to be entertained (except in specified circumstances) if the complainant has not previously communicated its substance to the respondent and given him a reasonable opportunity to deal with it.

(4)The Authority may make rules requiring an authorised person who may become subject to the compulsory jurisdiction as a respondent to establish such procedures as the Authority considers appropriate for the resolution of complaints which—

(a)may be referred to the scheme; and

(b)arise out of activity to which the Authority’s powers under Part X do not apply.

Modifications etc. (not altering text)

C1Sch. 17 para. 13 amended (19.7.2001 for specified purposes otherwise 1.12.2001) by S.I. 2001/2326, arts. 1(1), 4; S.I. 2001/3538, art. 2(1)