- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Financial Services Act 2012, Section 87 is up to date with all changes known to be in force on or before 08 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
(1)A regulator is not obliged to investigate in accordance with the complaints scheme a complaint which it reasonably considers would be more appropriately dealt with in another way (for example by referring the matter to the Upper Tribunal or by the institution of other legal proceedings).
(2)The complaints scheme must provide—
(a)for reference to the investigator of any complaint which a regulator is investigating,
(b)for the investigator—
(i)to have the means to conduct a full investigation of the complaint,
(ii)to report to the regulator to which the complaint relates and the complainant on the result of the investigator's investigation, and
(iii)to be able to publish the investigator's report (or part of it) if the investigator considers that it (or the part) ought to be brought to the attention of the public, and
(c)for the meeting by the regulators of the expenses of the scheme.
(3)If a regulator has decided not to investigate a complaint, it must notify the investigator.
(4)If the investigator considers that a complaint of which the investigator has been notified under subsection (3) ought to be investigated, the investigator may proceed as if the complaint had been referred to the investigator under the complaints scheme.
(5)The complaints scheme must confer on the investigator the power to recommend, if the investigator thinks it appropriate, that the regulator to which a complaint relates takes either or both of the following steps—
(a)makes a compensatory payment to the complainant, or
(b)remedies the matter complained of.
(6)The complaints scheme must require the regulator to which a complaint relates, in a case where the investigator—
(a)has reported that the complaint is well-founded, or
(b)has criticised the regulator in a report,
to inform the investigator and the complainant of the steps which it proposes to take in response to the report.
(7)The investigator may require the regulator to which a complaint relates to publish the whole or a specified part of the response.
(8)The investigator may appoint a person to conduct the investigation on the investigator's behalf but subject to the investigator's direction.
(9)An officer or employee of any of the regulators may not be appointed under subsection (8).
[F1(9A)The complaints scheme must provide—
(a)for the investigator to prepare an annual report on its investigations under the scheme, to publish it and send a copy of it to each regulator and to the Treasury;
(b)for each regulator to respond to any recommendations or criticisms relating to it in the report, to publish the response and send a copy of it to the investigator and the Treasury;
[F2(ba)for the regulator’s response under paragraph (b) to include a summary of—
(i)the cases in which the regulator decided not to follow any relevant recommendations, and
(ii)the reasons for not following those recommendations;]
(c)for the Treasury to lay the annual report and any response before Parliament.
(9B)The complaints scheme may make provision about the period to which each annual report must relate (“the reporting period”) and the contents of the report and must in particular provide for it to include—
(a)information concerning any general trends emerging from the investigations undertaken during the reporting period;
(b)any recommendations which the investigator considers appropriate as to the steps a regulator should take in response to such trends;
(c)a review of the effectiveness during the reporting period of the procedures (both formal and informal) of each regulator for handling and resolving complaints which have been investigated by the investigator during the reporting period;
(d)an assessment of the extent to which those procedures were accessible and fair, including where appropriate an assessment in relation to different categories of complainant;
(e)any recommendations about how those procedures, or the way in which they are operated, could be improved.]
[F3(f)such other matters as the Treasury may from time to time direct.]
[F4(9C)In subsection (9A)(ba) the reference to “relevant recommendations”, in relation to the regulator’s response in respect of an annual report, is a reference to—
(a)any recommendations to the regulator contained in that annual report, and
(b)any recommendations to the regulator contained in final reports relating to individual complaints given during the period to which that annual report relates.]
(10)Subsection (2) is not to be taken as preventing a regulator from making arrangements for the initial investigation of a complaint to be conducted by the regulator.
Textual Amendments
F1S. 87(9A)(9B) inserted (1.10.2015) by Small Business, Enterprise and Employment Act 2015 (c. 26), ss. 20, 164(1); S.I. 2015/1689, reg. 2(a)
F2S. 87(9A)(ba) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 76(3)(a), 86(3); S.I. 2023/779, reg. 4(xx)
F3S. 87(9B)(f) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 76(3)(b), 86(3); S.I. 2023/779, reg. 4(xx)
F4S. 87(9C) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 76(3)(c), 86(3); S.I. 2023/779, reg. 4(xx)
Commencement Information
I1S. 87 in force at 24.1.2013 for specified purposes by S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3
I2S. 87 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Ddeddf Gyfan heb Atodlenni you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Rhestrau you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Rhychwant ddaearyddol: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Dangos Llinell Amser Newidiadau: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Testun a grëwyd gan yr adran o’r llywodraeth oedd yn gyfrifol am destun y Ddeddf i esbonio beth mae’r Ddeddf yn ceisio ei wneud ac i wneud y Ddeddf yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol. Cyflwynwyd Nodiadau Esboniadol ym 1999 ac maent yn cyd-fynd â phob Deddf Gyhoeddus ac eithrio Deddfau Adfeddiannu, Cronfa Gyfunol, Cyllid a Chyfnerthiad.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys