Transitional Provisions and Schedules

Part

DISP Dispute Resolution: Complaints

Chapter

Transitional Provisions and Schedules

Printed on: 12/11/2024

Rulebook at: 31/12/2006

Transitional Provisions and Schedules

DISP TP 1

Transitional provisions

DISP TP 1.1

Transitional Provisions table

(1)

(2) Material provision to which transitional provision applies

(3)

(4) Transitional provision

(5) Transitional provision: dates in force

(6) Handbook provision: coming into force

DISP 1.2.15 G

Expired

DISP 1.5.4 R - DISP 1.5.7 R

Expired

DISP 1.5.4 R - DISP 1.5.7 R

Expired

DISP App 1

Firms are subject to DISP App 1in relation to relevant existing complaints.

From commencement

Commencement

DISP App 1

The Ombudsman Transitional Order makes special provision for the handling by FOS Ltd of "relevant existing complaints" (that is, complaints which the former schemes have partly completed at commencement). The arrangements for handling these complaints are set out in DISP App 1. (The handling of complaints which firms have partly completed at commencement is described at DISP 1.4.6 R.)

From commencement

Commencement

DISP 2 DISP 3 FEES 5 and DISP App 1

In DISP 2 DISP 3 FEES 5 and DISP App 1references to a "firm" or "firms" include unauthorised persons subject to the Compulsory Jurisdiction in relation to relevant complaints in accordance with the Ombudsman Transitional Order.

From commencement

Commencement

DISP 2 DISP 3 FEES 5 and DISP App 1

Under the Ombudsman Transitional Order, a relevant complaint is subject to the Compulsory Jurisdiction whether or not it is about a firm or an unauthorised person. Unauthorised persons are not subject to DISP 1, but references to "firm" in DISP 2 DISP 3 , FEES 5 and DISP App 1 include unauthorised persons subject to the Compulsory Jurisdiction in relation to relevant complaints, where applicable.

From commencement

Commencement

DISP 2.3.6 R

Nothing in DISP 2.3.6 R affects the position of a complaint which, on 31 May 2004, could not have been considered by the Ombudsman under DISP 2.3.1 R (1)(c); or DISP 2.3.6 R (1)(b) as it then stood.

From 1 June 2004

Amended with effect from 1 June 2004

DISP 2.3.6 R

In the case of a complainant falling within DISP 2.3.6 R as amended by this instrument, (and whose time for referring a complaint under the rules as they stood before amendment has not expired), time will expire in accordance with the amended rule save that if the final date would otherwise be before 30 November 2004 an explanation of the final date will be in conformity with DISP 2.3.6 R(2) , provided it stipulates a final date which is not less than two months from the date on which the explanation is likely to be received by the complainant.

From 1 June 2004

Amended with effect from 1 June 2004

DISP 1 DISP 2 DISP 3 DISP 4 FEES 5 and DISP App 1

In relation to relevant complaints, references in DISP 1, DISP 2, DISP 3, DISP 4, FEES 5 and DISP App 1 to an " eligible complainant " include a person who is to be treated as an eligible complainant in accordance with the Ombudsman Transitional Order and references to a complaint shall be construed accordingly.

From commencement

Commencement

DISP 5.5.1 R

Expired

DISP 1.5.4 R

DISP 1.5.4 R does not apply to a firm with permission to carry on only insurance mediation activity, mortgage mediation activity, or both.

(1) In respect of mortgage mediation activities, 31.10.04 - 31.3.05; (2) in respect of insurance mediation activities, 14.1.05 - 31.3.05.

DISP 1.5.4 R

Where a firm is required under DISP 1.5.4 R to submit information using a report in the format set out in DISP 1 Ann 1R on a half-yearly basis, this must be read as a reference to providing the first and second report in accordance with transitional provision 12R.

From 01.4.05, expiring on 31.3.06

1 April 2005

DISP 1.5.4 R

If transitional provision 11R applies, the firm's first and second report must be provided as follows:

Accounting reference date

Reporting period starts

Reporting period ends

Report to be provided

Between 1 January 2005 and 31 March 2005

1st report: 1 April 2005

6 months after the accounting reference date within 2005

30 business days after period end

2nd report: the day after the end of the 1st reporting period

the accounting reference date within 2006

Between 1 April 2005 and 30 June 2005

1st report: 1 April 2005

6 months after the accounting reference date within 2005

30 business days after period end

2nd report: the day after the end of the 1st reporting period

the accounting reference date within 2006

Between 1 July 2005 and 30 September 2005

1st report: 1 April 2005

the accounting reference date within 2005

30 business days after period end

2nd report: the day following the accounting reference date within 2005

6 months after the accounting reference date within 2005

Between 1 October 2005 and 31 December 2005

1st report: 1 April 2005

the accounting reference date within 2005

30 business days after period end

2nd report: the day following the accounting reference date within 2005

6 months after the accounting reference date within 2005

DISP 1

Where, at the relevant commencement date, a firm is still dealing with a complaint that is capable of being referred to the Financial Ombudsman Service as a relevant transitional complaint:

31 October 2004 (for a complaint to which the MCAS Scheme applied immediately before that date)

31 October 2004

(1)

it may continue to try to resolve the complaint in accordance with the complaints procedures that applied previously; but

14 January 2005 (for a complaint to which the GISC Facility applied immediately before that date)

(2)

it must, within eight weeks of the relevant commencement date, send the complainant a response which satisfies DISP 1.4.5 R , unless DISP 1.4.3A R or DISP 1.4.9 R applies.

DISP TP 13R recognises that where a firm has already received, but only partly completed the handling of, a complaint which is capable of becoming a relevant transitional complaint, it may not always be practicable to handle the complaint in accordance with DISP 1 after the relevant commencement date.

FEES 5.4.1 R

A firm which falls within industry block 16 or 17 needs to provide a statement to the FSA by the end of February 2005 only if it is providing the FSA with a statement of the total amount of relevant business.

31 October 2004 to 28 February 2005 for firms falling in industry block 16
14 January 2005 to 28 February 2005 for firms falling in industry block 17

31 October 2004

FEES 5.4.1 R

In respect of the year 2005/06, the FSA will already have a statement of the total amount of the firm's annual income as part of the firm's application for a Part IV permission or to vary a Part IV permission. There is thus no need for a firm to repeat this information if it decides not to report annual income for relevant business in accordance with DISP TP 15R.

31 October 2004 to 28 February 2005 for firms falling in industry block 16
14 January 2005 to 28 February 2005 for firms falling in industry block 17

31 October 2004

DISP 1.4.18 R - DISP 1.4.20 G

A firm must apply DISP as it applied before amendment by the Depolarisation Instrument to complaints received before 14 January 2005.

From 14 January 2005.

14 January 2005

DISP TP 1.2

Table Fee tariffs for industry blocks

Industry Block

Tariff Base

1-Deposit acceptors

Number of accounts relevant to the activities in DISP 2.6.1 R

2-Firms that undertake insurance activities, subject to prudential regulation only (excluding firms in blocks 13 & 15)

Relevant annual gross premium income

3-Society of Lloyd's

Flat fee

4-Firms that undertake insurance activities, subject to both prudential and conduct of business regulation (long term life insurers)
(excluding firms in block 15)

Relevant adjusted annual gross premium income

5-Fund managers (including those holding client money/assets and not holding client money/assets)

Relevant funds under management

6-Operators, Trustees and Depositaries of collective investment schemes

Flat fee

7-Firms dealing as principal

Number of relevant traders

8-Advisory arrangers, dealers or brokers (holding or controlling client money and/or assets)

Number of relevant approved persons (controlled functions 21, 22, 24, 25, 26)

9-Advisory arrangers, dealers or brokers (not holding or controlling client money and/or assets)

Number of relevant approved persons (controlled functions 21, 22, 24, 25, 26)

10-Corporate finance advisers

Number of relevant approved persons (controlled function 23)

11-Execution-only arrangers, dealers or brokers

Flat fee

12-Advisory only firms

Number of relevant approved persons (controlled functions 21, 22, 24, 25)

13-Cash plan health providers

Flat fee

15-Friendly Societies whose tax-exempt business represents 95% or more of their total relevant business

Flat fee

DISP TP 1.3

The industry blocks in Table 2 are the same as the equivalent activity group set out in part 7 of FEES 4 Annex 1 .

Where the tariff base in the table is defined in similar terms as the tariff base for the equivalent activity group set out in part 7 of FEES 4 Annex 1 , it must be calculated in the same way as that tariff base except that it takes into account only the firm's relevant business.

01/01/2006

DISP Sch 1

Record keeping requirements

01/12/2004

DISP Sch 1.1

The aim of the guidance in the following table is to give the reader a quick overall view of the relevant record keeping requirements.

It is not a complete statement of those requirements and should not be relied on as if it were.

01/12/2004

DISP Sch 1.2

Handbook reference

Subject of record

Contents of record

When record must be made

Retention period

DISP 1.5.1 R

Complaints subject to DISP 1.4 - DISP 1.1.6 G.

Not specified, but see DISP 1.5.2 G

On receipt

3 years

01/12/2004

DISP Sch 2

Notification requirements

01/12/2004

DISP Sch 2.1

The aim of the guidance in the following table is to give the reader a quick overall view of the relevant requirements for notification and reporting.

It is not a complete statement of those requirements and should not be relied on as if it were.

01/04/2002

DISP Sch 2.1

Handbook reference

Matter to be notified

Contents of notification

Trigger event

Time allowed

DISP 1.1.7 R

Firm qualifies for exemption

Confirmation that a firm does not do business with eligible complainants and has no reasonable likelihood of doing so

Conditions in DISP 1.1.7 R apply

N/A

DISP 1.1.10 R

End of exemption

Confirmation that the conditions in DISP 1.1.7 no longer apply

Conditions in DISP 1.1.7 no longer apply

As soon as reasonably practicable

DISP 1.5.4 R

Complaints report

Details

- 6 months preceding the accounting reference date
- accounting reference date

30 business days

DISP 1.5.11 R

Single contact point

Details

At the time of authorisation or on subsequent change

Not specified

DISP 1.7.5 R

Member of Lloyd's qualifies for exemption

Confirmation by the Society of Lloyd's that a specified member of Lloyd's does not do business with eligible complainants and has no reasonable likelihood of doing so

[As above]

N/A

DISP 1.7.6 R

End of exemption for member of Lloyd's

Confirmation by the Society of Lloyd's that the condition in DISP 1.1.7 no longer apply to a specified member of Lloyd's

Conditions in DISP 1.1.7 no longer apply

Not specified

DISP 1.7.7 R

Complaints report by Society of Lloyd's

Details

- 30 September
- 31 March
each year

One month

FEES 5.4.1 R

Relevant business conducted

The total amount of relevant business (measured in accordance with the appropriate tariff base(s)) which the firm conducted as at or in the year to 31 December as appropriate, in relation to the tariff base for each of the relevant industry blocks set out in FEES 5 Annex 1 R

N/A

By the end of February each year

01/01/2006

DISP Sch 3

Fees and other required payment

01/12/2004

DISP Sch 3.1

The aim of the guidance in the following table is to give the reader a quick overall view of the relevant requirements for fees and other required payments.

It is not a complete statement of those requirements and should not be relied on as if it were.

01/04/2002

DISP Sch 3.2

Type of fee

Trigger event

Date/Time for payment

Amount/rate

Handbook reference

General levy

Annual invoice from FOS Ltd

(1) On or before the later of 1 April and 30 calendar days after the date when the invoice is issued by FOS Ltd; or
(2) for amounts exceeding the minimum levy, quarterly, at the beginning of each quarter, by direct debit.

Amount of relevant business according to applicable tariff base; or minimum levy.

FEES 5.3
FEES 5.7
Part 2 of FEES 5 Annex 1 R

Supplementary levy

Annual invoice from FOS Ltd

Amount of relevant business according to applicable tariff base; or minimum levy.

FEES 5.6
FEES 5.7
Part 2 of FEES 5 Annex 1 R

Case fees

Monthly invoice from FOS Ltd

Within 30 calendar days of date when the invoice is issued by FOS Ltd

Standard case fee (£360) or special case fee (£720), as applicable

FEES 5.5
FEES 5.7
Part 3 of FEES 5 Annex 1 R

01/01/2006

DISP Sch 4

Powers Exercised

01/12/2004

DISP Sch 4.1

The following powers and related provisions in the Act and in the Ombudsman Transitional Order have been exercised by the FSA to make the rules in DISP:

(1)

Section 138 (General rule-making power)

(2)

Section 156 (General supplementary powers

(3)

Section 226 (Compulsory Jurisdiction)

(4)

Section 229 (Awards)

(4A)

Section 234 (Funding)

(4B)

Section 316(1) (Direction by Authority)

(5)

Schedule 17 paragraph 13 (FSA's procedural rules)

(6)

Article 15 (Record-keeping and reporting requirements relating to relevant complaints) of the Ombudsman Transitional Order.

The following power in the Act has been exercised by the FSA to give the guidance in DISP:

(1)

Section 157(1) (Guidance)

The following powers and related provisions in the Act have been exercised by the FOS Ltd to make the rules in DISP:

(1)

Section 227 (Voluntary Jurisdiction)

(2)

Section 230 (Costs)

(3)

Schedule 17 paragraph 8 (Guidance)

(4)

Schedule 17 paragraph 14 (The scheme's rules)

(5)

Schedule 17 paragraph 15 (Fees)

(6)

Schedule 17 paragraph 18 (Terms of reference to the scheme)

31/12/2006

DISP Sch 4.2

Table: The powers to make rules relating to the new ombudsman scheme are shared between the FSA and the Financial Ombudsman Service (FOS Ltd). FOS Ltd's rules are subject to FSA consent or approval. The rules made exclusively by FOS Ltd are:

DISP 2

2.6.9 R

2.6.11 R

DISP 3

3.2.5R

3.2.7R

3.2.8R

3.2.9R

3.2.11R

3.2.12R

3.2.13R

3.3.1R

3.4.1R

3.5.1R

3.5.2R

3.6.1R

3.6.2R

3.6.3R

3.7.1R

3.8.1R(2)

3.8.3R

3.9.10R

3.9.12R

3.9.15R

3.10.1R

DISP 4

All rules

FEES 5

5.1.6R

(all rules) 5.5

5.7.2R

5.7.3R

5.9.1R

FEES 5

part 3

part 4

01/01/2006

DISP Sch 5

Actions for damages for contravention under section 150 of the Act

01/12/2004

DISP Sch 5.1

The table below sets out the rules in DISP contravention of which by an authorised person may be actionable under section 150 of the Act (Actions for damages) by a person who suffers loss as a result of the contravention.

If a "Yes" appears in the column headed "For private person?", the rule may be actionable by a "private person" under section 150 (or, in certain circumstances, his fiduciary or representative; see article 6(2) and (3)(c) of the Financial Services and Markets Act 2000 (Rights of Action) Regulations 2001 (SI 2001 No 2256)). A "Yes" in the column headed "Removed" indicates that the FSA has removed the right of action under section 150(2) of the Act. If so, a reference to the rule in which it is removed is also given.

The column headed "For other person?" indicates whether the rule may be actionable by a person other than a private person (or his fiduciary or representative) under article 6(2) and (3) of those Regulations. If so, an indication of the type of person by whom the rule may be actionable is given.

01/12/2004

DISP Sch 5.2

Right of Action under s150

Chapter/Appendix

Section/Annex

Paragraph

For private person?

Removed?

For other person?

1 Complaints handling arrangements for firms

All rules apart from DISP 1.7.14R and DISP 1.7.15R

Yes

14 and 15

Yes - DISP 1.7.22R

2 Jurisdiction rules

Yes

3 Complaints handling procedures of the Financial Ombudsman Service

Yes

4 The standard terms

N/A

5 Funding

Yes

31/12/2006

DISP Sch 6

Rules that can be waived

01/12/2004

DISP Sch 6.1

No rules in DISP may be waived, other than DISP 1.5.4 R, and DISP 1.4.1 R to DISP 1.4.16 R.

01/12/2004