ABI criticises FCA's late decision on complaints rules timeframes
The Association of British Insurers is disappointed the Financial Conduct Authority's amendment to the implementation date for changes to complaints handling and reporting processes, announced today (4 December), has come too late to avoid insurers incurring additional costs.
The FCA said in September firms would need to be ready for the new complaints format from 1 January 2016. A handbook notice released today confirmed the new reporting rules would not be implemented
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