Any Financial Service Provider can apply to join the FSCL scheme.
The benefits of membership are:
- Confidence in the process - FSCL is staffed by experienced and professional dispute resolution experts and operates a modern Case Management System. The CEO can efficiently deal with most disputes that require a decision. If it is required, the Panel process allows expert industry and consumer input.
- Confidence in the personnel – FSCL staff have the required skills and have a background in the financial sector. FSCL governance and management is independent and not aligned with any industry group.
- Early settlement where possible - FSCL’s emphasis is on the early resolution of complaints using negotiation and conciliation to promote agreeable and timely outcomes.
- Preventing complaints becoming disputes – FSCL Participants will receive the FSCL internal complaints process manual and access to support in establishing internal processes and skills training.
- Participants will be able to promote their membership of the FSCL scheme as a service to customers. Customers of participants will have the reassurance of access to the FSCL scheme in the event that the participant is unable to resolve complaint about services delivered.
- Participation in the scheme ensures compliance with the Financial Service Providers (Registration and Dispute Resolution) Act 2008.
- For advisers the internal complaints process manual will meet the requirements for the Code of Professional for Financial Advisers.
- Fees are based on FSCL being an inclusive scheme with scale reducing costs to members, but as FSCL is not for profit all surpluses (after retention of reserves) must be returned to members as reduced fees.
Apply
You can apply to join FSCL by filling out the application form provided. The Application Form can be downloaded here, signed and sent to FSCL by email or by post. For addresses, click here.
