European Institute of Management and Finance | Handling Complaints and Treating Customers Fairly in Financial Services
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Handling Complaints and Treating Customers Fairly in Financial Services


The EIMF Live Online Learning Experience


EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more



Course Overview


Much of the focus of MiFID 2, the Insurance Distribution Directive and other modern regulation is on the fair treatment of customers. The handling of complaints marks out financial institutions as being concerned about their customers and keen to improve their own standards generally. MiFID 2 was the first general EU financial services directive to take the subject seriously and lay down, through its MiFID Org Regulations, some Europe-wide complaint rules. Now, the ESMA/EBA guidelines apply to Cyprus complaint handling well beyond banking and the EIOPA guidelines deal with insurance cases.


At the same time, Cyprus’ Financial Ombudsman is a decade old and has been quietly handling complaints from across the financial regulated sectors within the country, well beyond MiFID’s requirements. Regulated financial services businesses including insurers and deposit takers are all included.


The trainer, Adam Samuel is a UK-based complaints and compliance expert who has handled complaints for firms, consumers and briefly as an Ombudsman. He is the author of the only book on UK financial services complaint handling now in its second edition. He brings to our courses his experience and knowledge of the UK and the subject-area generally as well as an unquenchable enthusiasm for learning how the rest of Europe and in particular Cyprus handles things. He brings to every course a string of practical examples and welcomes people bringing along their case studies and examples.


This course of two half days covers complaint handling from European perspective across all the regulated financial services sectors, relying principally on the ESMA/EBA Guidelines, a little Alternative Dispute Resolution Directive and the Cyprus Law on the Ombudsman. Although there are differences between Cyprus and other parts of Europe as regards its Ombudsman scheme, much of what we are going to talk about is Europe-wide and actually worldwide.



Training Objectives


By the end of the programme, participants should be able to:


  • Apply treating customers fairly notions to their business
  • Apply the MiFID Org Regulation provisions to complaints
  • Build and implement the basics of a complaints procedure and policy
  • Understand the complaints process from advance disclosure of the process to the closure of the case
  • Appreciate some of the root cause analysis techniques and their weaknesses
  • Reach fair results in relation to their products and services and complaints about them
  • Deal with a case at the Financial Ombudsman



Training Outline


  • Where to find the relevant materials
  • The complaints procedure and policy
  • Advance disclosure of how to complain
  • Identification, recording and acknowledgement of complaints
  • Investigations – by whom, what and how?
  • The assessment of the complaint
  • Typical grounds for upholding complaints
  • Basics of compensation
  • Drafting the final response
  • Referring the customer to the Ombudsman
  • The Ombudsman
  • Root cause analysis



Training Style


This programme consists of an interactive presentation of the relevant rules and good practice with questions and comments to and from the participants, interrupted by a large number of practical examples, including the drafting of relevant documents including where time permits final responses.



CPD Recognition


This programme may be approved for up to 6 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.


Professionals requiring CPD units to meet the education requirements for CySEC licence renewal, and/or for maintaining other professional memberships/certifications which accept CPD in Financial Regulation, are advised to consider training subjects in categories that indicate CPD training in Financial Regulation.



Who Should Attend


The programme is ideal for:


  • Complaint handlers
  • Compliance Officers and staff
  • Customer relations and customer service staff
  • Lawyers
  • Risk managers