EBA欧洲银行-Joint-Committee-Guidelines-on-complaints-handling-28JC-2018-3529_MT_6页_301kb

Summary of the Document

Core Content

This document outlines guidelines for handling complaints from both investment services and banking services within the European Union (EU). It is issued by the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA), and aims to ensure consumer protection and supervisory convergence across the EU. The guidelines are directed at competent authorities and financial institutions, and they establish common standards for complaint handling procedures.

Main Points

• Consumer Protection: The guidelines are designed to ensure that financial institutions provide adequate complaint handling to protect consumers.
• Supervisory Convergence: The aim is to harmonize complaint handling practices across the EU to ensure consistency in regulation.
• Applicability: The guidelines apply to competent authorities and financial institutions, including investment firms, banking institutions, and UCITS management companies.
• Compliance Obligations: Financial institutions must comply with the guidelines, and competent authorities must notify ESMA and EBA of their compliance or intent to comply.
• Implementation Deadline: The guidelines apply from 1 May 2019, with specific obligations for reporting and transparency.
• Definitions: Key terms such as "financial institution", "complaint", and "complainant" are defined in line with EU legislation, including MiFID, UCITS, AIFMD, PSD, EMD, and MCD.

Key Information

Scope of Application

• The guidelines apply to competent authorities and financial institutions that are subject to supervision.
• They apply to investment services, banking services, and UCITS management services.
• They do not apply to:
  • Activities not covered by the competent authorities as per MiFID, AIFMD, or CRD.
  • Activities of entities that are not legally or regulatorily responsible for complaint handling.
  • Activities that are not related to the substance of complaint handling.

Compliance and Reporting

• Financial institutions must implement and monitor complaint handling procedures to ensure compliance.
• Competent authorities must notify ESMA and EBA of their compliance or intent to comply, using the notification model available on their websites.
• The deadline for compliance is 1 May 2019, and reporting obligations are in place to ensure transparency.

Complaint Handling Principles

• Guideline 1: Financial institutions must establish a complaint handling policy that is approved by senior management and available to relevant staff.
• Guideline 2: Institutions must ensure that complaints are investigated thoroughly and potential conflicts of interest are identified and mitigated.
• Guideline 3: Institutions must register complaints internally in accordance with national requirements, using secure electronic systems where possible.
• Guideline 4: Institutions must report complaints to competent authorities and the ombudsman, including quantitative data and differentiated by national criteria.
• Guideline 5: Institutions must monitor complaints continuously and address recurring or systemic issues.
• Guideline 6: Institutions must provide clear and accessible information on the complaint handling process, including:
  • How complaints are handled.
  • The identity and contact details of the person or department responsible for handling complaints.
  • The availability of ombudsman, ADR mechanisms, and national competent authorities.
• Guideline 7: Institutions must communicate with complainants in simple language, and provide final decisions in writing, including:
  • A clear explanation of the decision.
  • The options available to the complainant.
  • If the decision does not meet the complainant's expectations, the institution must inform them of the reasons and indicate that an investigation is ongoing.

Conclusion

The document serves as a comprehensive framework for complaint handling in the EU financial sector, ensuring that both financial institutions and supervisory authorities adhere to common standards. It emphasizes transparency, consumer protection, and supervisory coordination to enhance the efficiency and fairness of complaint resolution processes.