MPs Want More Time For Watchdogs' Complaints Assessment

Law360, London (September 11, 2020, 2:10 PM BST) -- Politicians said on Friday that they need more time to consider how the top finance regulators should overhaul the way they deal with complaints from the businesses they oversee, saying the eight-week consultation period is not enough in the middle of a pandemic.

Mel Stride, chairman of the parliamentary Treasury Committee, has written to the Financial Conduct Authority and the Bank of England, asking the regulators to extend the deadline for the consultation, which is slated to close on Sept. 14. MPs have criticized the complaints process.

"The regulators are rightly looking to improve the scheme through which people can complain against...

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