PART 6

Investigation of complaints against regulators

Arrangements for the investigation of complaints
84
1
The regulators must—
a
make arrangements (“the complaints scheme”) for the investigation of complaints arising in connection with the exercise of, or failure to exercise, any of their relevant functions (see section 85), and
b
appoint an independent person (“the investigator”) to be responsible for the conduct of investigations in accordance with the complaints scheme.
2
For the purposes of this Part “the regulators” are the FCA, the PRA and the Bank of England, and references to a regulator are to be read accordingly.
3
The complaints scheme must be designed so that, as far as reasonably practicable, complaints are investigated quickly.
4
The Treasury's approval is required for the appointment or dismissal of the investigator.
5
The terms and conditions on which the investigator is appointed must be such as, in the opinion of the regulators, are reasonably designed to secure—
a
that the investigator will be free at all times to act independently of the regulators, and
b
that complaints will be investigated under the complaints scheme without favouring the regulators.
S. 84 in force at 24.1.2013 for specified purposes by S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3
S. 84(1)(a) applied (with modifications) (1.4.2013) by The Financial Services Act 2012 (Transitional Provisions) (Miscellaneous Provisions) Order 2013 (S.I. 2013/442), arts. 1(3), 61(3)(a)
S. 84 applied (with modifications) (1.4.2013) by The Financial Services Act 2012 (Transitional Provisions) (Miscellaneous Provisions) Order 2013 (S.I. 2013/442), arts. 1(3), 63(2)
Ss. 84-86 applied by SI 2001/2326 art. 18(2) (as amended) (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 paras. 49(b)(bb)-(ff), (ii)
S. 84 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.