How To Complain

All licensed institutions will do their best to make sure that clients' enquiries or complaints are dealt with promptly and efficiently. If you do not receive at least an acknowledgement of an approach within a reasonable time, contact the Chief Executive of the licenceholder. The Commission reviews with licenceholders their procedures for handling complaints and considers the record and nature of complaints in the course of carrying out its supervision.

The Commission does not have a role to arbitrate in a dispute between a client and licenceholder, or to recommend or enforce any compensation award. Normally such disputes are of a commercial or service nature, and it is for the parties concerned to resolve between themselves. The Commission's role is to ensure that a licenceholder is being managed prudently in a fit and proper manner: any interest which it takes in a complaint will therefore normally be confined to ensuring that this criterion is being met.

In the Commission's experience, a fair way can normally be found to resolve most complaints in a reasonable way. Ultimately a complainant can resort to legal action, if appropriate.

The Isle of Man has introduced a Financial Services Ombudsman scheme. Further details on this can be sought from the Office of Fair Trading.

If you have a complaint against the Commission, please see Making a Complaint about the Financial Supervision Commission