http://www.legislation.gov.uk/ukpga/2012/21/section/87/2014-04-01Financial Services Act 2012An Act to amend the Bank of England Act 1998, the Financial Services and Markets Act 2000 and the Banking Act 2009; to make other provision about financial services and markets; to make provision about the exercise of certain statutory functions relating to building societies, friendly societies and other mutual societies; to amend section 785 of the Companies Act 2006; to make provision enabling the Director of Savings to provide services to other public bodies; and for connected purposes.texttext/xmlenStatute Law Database2026-04-20Expert Participation2014-04-01 Financial Services Act 2012ActWater Act 2014s. 79(4)s. 94(3)Financial Services Act 2012ActWater Act 2014s. 81(10)s. 94(3) PART 6 871A 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).2The complaints scheme must provide—afor reference to the investigator of any complaint which a regulator is investigating,bfor the investigator—ito have the means to conduct a full investigation of the complaint,iito report to the regulator to which the complaint relates and the complainant on the result of the investigator's investigation, andiiito 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, andcfor the meeting by the regulators of the expenses of the scheme.3If a regulator has decided not to investigate a complaint, it must notify the investigator.4If 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.5The 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—amakes a compensatory payment to the complainant, orbremedies the matter complained of.6The complaints scheme must require the regulator to which a complaint relates, in a case where the investigator—ahas reported that the complaint is well-founded, orbhas 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.7The investigator may require the regulator to which a complaint relates to publish the whole or a specified part of the response.8The investigator may appoint a person to conduct the investigation on the investigator's behalf but subject to the investigator's direction.9An officer or employee of any of the regulators may not be appointed under subsection (8).10Subsection (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.S. 87 in force at 24.1.2013 for specified purposes by S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3S. 87 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.