How to Complain about the Authority

Introduction

The Isle of Man Financial Services Authority (“the Authority”) is committed to acting professionally and fairly at all times.

The Authority views complaints as an opportunity to examine potential weaknesses and to explore ways in which performance might be improved, or the role of the Authority better understood. Our complaints procedure has been designed to ensure that any complaints about our actions or omissions are handled fairly and consistently.

The complaints scheme covers any expression of dissatisfaction about the way the Authority has carried out or failed to carry out its role. The five principles of accessibility, simplicity, speed, independence and confidentiality form part of our policy.

The complaints procedure is not a method of examining legal issues, of re-considering cases upon which a decision has been made, or of querying technical issues. It is a means for customers to complain about procedural matters.

How to make a formal complaint

  • A formal complaint may be made by someone who has been directly affected by the Authority's actions, or has a direct involvement or interest in the subject of the complaint. Anonymous complaints will not be accepted.
  • A formal complaint must be made in writing, addressed to the Chief Executive and must specify that it is a formal complaint.
  • If you make a verbal complaint that cannot be resolved immediately and you wish it to be investigated further, you will be asked to set out the complaint in writing.
  • When making a complaint you will need to supply all the information indicated by this form. You do not need to use the form, but it may enable your complaint to be processed more quickly if you do so. A guide to the procedures for handling complaints is shown below.

A guide to the procedures for handling complaints is shown below.

Who do I complain to?

Complaints about the actions or omissions of the Authority must be sent to:

The Chief Executive
Isle of Man Financial Services Authority
P.O. Box 58 Finch Hill House
Bucks Road
Douglas
Isle of Man
IM99 1DT

E-mail: [email protected]

For complaints about the actions of an entity that is regulated by the Authority please click here where the entity is regulated under the Financial Services Act 2008 and here where the entity is regulated under the Insurance Act 2008.

How will my complaint about the Authority be handled?

Your complaint will be investigated by a senior member of staff, who is independent of the matter being complained about.

Complaints are acknowledged within five business days and are resolved as quickly as possible. We endeavour to complete our investigation of your complaint within four weeks. However, if this is not possible, we will write to you within four weeks to advise on the progress of our review and when we expect to complete the investigation.

On completion of our investigation, we will send you a report. Our report will advise if your complaint has been upheld and if so what steps will be taken to remedy the situation. If your complaint has been rejected, we will advise why. Prior to sending our report, the investigating manager will discuss your complaint with another independent manager, to assess whether your complaint has been investigated thoroughly and you have been treated fairly.

All complaints are treated in confidence as far as possible.

What if I feel that my complaint has not been properly addressed?

If you feel that your complaint has not been properly addressed, or has not been handled properly, you may write to the Board of the Authority to seek a Review. Your request for a Review must be submitted within four weeks of the date of our report to you following our investigation. The Review procedure is available via this link.

Complaints that are covered by the scheme:

  • The complainant must have a direct involvement or interest in the subject of the complaint.
  • The complaint should not concern a formal decision which has an independent appeal mechanism or where the appeal mechanism has not been exhausted.
  • The complaint must be made within twelve months of the date on which the complainant became aware of the event which is the subject of the complaint, unless the complainant can demonstrate good reason for a delay in making the complaint.
  • A complaint may be that the Authority has failed to make a decision.
  • A complaint may be about a significant mistake, lack of care, unreasonable delay, or lack of proportionality.
  • A complaint may be about the failure of administrative arrangements or an over-restrictive or narrow interpretation of such arrangements.
  • A complaint may be about the application of unfair or inappropriate remedies.
  • A complaint may concern breach of confidentiality.
  • A complaint may be about damage to property.
  • A complaint may be about the attitude or behaviour of a member of staff.

Complaints which fall outside these guidelines will only be investigated at the discretion of the Chief Executive

Recording of complaints

All complaints received by the Authority are recorded for internal monitoring purposes, with a summary of the outcome. A complaints report is given to the Board of the Authority on a regular basis.