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Re: Latest Update on PPI Judicial Review - NO APPEAL - get your claims in......
I've sent an FoI.
The implementation of the Root Cause Analysis requirements for firms in the Policy Statement 10/12 was to have commenced in mid Q1 2011, giving firms time to initially prioritise their efforts to the fair handling of PPI complaints.
The monitoring time table of the Root Cause Analysis requirements in the Policy Statement 10/12 was as follows:
Early Q1 2011: we will write to several firms (selected on a risk/impact basis)
asking them for a detailed self-report on what root cause analysis they have done,
the results of this, and what steps they are planning as a result concerning changing
sales practices going forward and/or treating non-complainants fairly.
Q2 - Q4 2011: we will carry out (and/or potentially ask skilled persons to report on)
detailed and intensive reviews of the approach to root cause analysis of several firms
(again selected on a risk/impact basis) and, in particular, their consideration of,
andwhere appropriate the scope and fairness of, their own initiative actions towards
non-complainants, and the effectiveness of these actions in giving relevant non-complainants
redress or proper opportunity to obtain it.
1) Given that the Judicial Review proceedings effectively delayed firms' implementation of the PS 10/12, what is the revised implementation date for the Root Cause Analysis requirements?
2) As priority has been given to the fair handling of complaints, is there a separate, later implementation date for Root Cause Analysis for the firms that were granted an extension to dealing with complaints beyond the standard 8 week period?
3) What is the revised time table for the monitoring of the Root Cause Analysis requirements?
4) To date how many firms’ if any, have either initiated customer contact exercises under the Root Cause Analysis requirements of PS10/12 (as distinct from past business reviews already agreed) or have indicated an intention to do so. Please note I am not asking for any firm specific data.
Originally posted by leclerc
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The implementation of the Root Cause Analysis requirements for firms in the Policy Statement 10/12 was to have commenced in mid Q1 2011, giving firms time to initially prioritise their efforts to the fair handling of PPI complaints.
The monitoring time table of the Root Cause Analysis requirements in the Policy Statement 10/12 was as follows:
Early Q1 2011: we will write to several firms (selected on a risk/impact basis)
asking them for a detailed self-report on what root cause analysis they have done,
the results of this, and what steps they are planning as a result concerning changing
sales practices going forward and/or treating non-complainants fairly.
Q2 - Q4 2011: we will carry out (and/or potentially ask skilled persons to report on)
detailed and intensive reviews of the approach to root cause analysis of several firms
(again selected on a risk/impact basis) and, in particular, their consideration of,
andwhere appropriate the scope and fairness of, their own initiative actions towards
non-complainants, and the effectiveness of these actions in giving relevant non-complainants
redress or proper opportunity to obtain it.
1) Given that the Judicial Review proceedings effectively delayed firms' implementation of the PS 10/12, what is the revised implementation date for the Root Cause Analysis requirements?
2) As priority has been given to the fair handling of complaints, is there a separate, later implementation date for Root Cause Analysis for the firms that were granted an extension to dealing with complaints beyond the standard 8 week period?
3) What is the revised time table for the monitoring of the Root Cause Analysis requirements?
4) To date how many firms’ if any, have either initiated customer contact exercises under the Root Cause Analysis requirements of PS10/12 (as distinct from past business reviews already agreed) or have indicated an intention to do so. Please note I am not asking for any firm specific data.
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