Guidance on making a complaint about a regulated entity

Here is some guidance for people who may be considering making a complaint to the Authority about a regulated entity, or former regulated entity, or an entity that was regulated by either the Financial Supervision Commission or the Insurance and Pensions Authority (which preceded the Authority).

The guidance explains the different options for those considering making complaints and is designed to help you to make an informed choice about your next steps.

Because the Authority is a regulator and not an ombudsman, it only investigates complaints that relate to material regulatory issues, for example, about a breach of the regulatory legislation such as the Financial Services Act 2008, the Insurance Act 2008, the Retirement Benefit Schemes Act 2000 and related regulations etc. This means that often it may be more appropriate for you to complain in a different way, for example, by using the Isle of Man’s Financial Services Ombudsman Scheme (which is a free, independent dispute resolution service that applies to the business of some regulated entities). Here is a link to its website.

The Isle of Man also has provisions under the Employment Act 2006 to protect whistleblowers, as shown in this guide to whistleblowing. The Authority has published information on whistleblowing which can be found here.

For complaints about the way in which the Authority has carried out or failed to carry out its role please click here.