FCA regulation and CIFAS markers

Most CIFAS member organisations are regulated by the Financial Conduct Authority. FCA rules require firms to treat customers fairly, handle complaints properly, and act proportionately. While the FCA does not resolve individual complaints, its rules provide important arguments for your complaint.

Relevant FCA principles

• Principle 6 — Treating Customers Fairly: firms must pay due regard to the interests of customers and treat them fairly
• Principle 3 — Management and control: firms must take reasonable care to organise and control their affairs responsibly
• DISP rules — Dispute Resolution: firms must have a complaints procedure and respond within 8 weeks
• Vulnerability guidance — firms must consider vulnerability factors when making decisions that affect customers

How FCA rules support your complaint

FCA rules support proportionality arguments. Even where some wrongdoing occurred, the FCA requires that the response is proportionate to the circumstances. A CIFAS marker that prevents all access to financial services may be disproportionate if the underlying conduct was minor or if there are mitigating circumstances.