How to Make a Complaint

Top tips

1. If you have a complaint against a regulated financial services business in the Bailiwick of Guernsey, you should FIRST raise the matter with the business itself.

2. Include as much information and evidence as possible to support the complaint.

3. If you are still not satisfied with the outcome, you may decide to contact the Channel Islands Financial Ombudsman. They are able to adjudicate in complaints for acts or omissions by certain types of financial services providers that occurred on or after 2 July 2013.

4. If this does not resolve the matter to your satisfaction, you may wish to seek advice from a qualified Guernsey Advocate (lawyer). A list of Guernsey Advocates is available from the Guernsey Bar. 

5. You may also consider informing the Guernsey Financial Services Commission; it is important to be aware that the Commission is not an Ombudsman - we are therefore not empowered under the Law to order a regulated financial services business to pay you compensation.

When would I make a complaint?

In the event that you are not entirely satisfied with the conduct or service provided by a regulated financial services business operating in the Bailiwick, you are encouraged to write to that business in the first instance explaining the situation. The financial services business would normally deal with this under their internal complaints policy. The Commission expects regulated entities to have satisfactory systems and controls in place to enable them to deal with customer complaints in a thorough and prompt manner.

How do I make a complaint?

It is recommended that you put your complaint in writing, to ensure that there is a record of the communication between you and the financial services business. When making a complaint, ensure you provide as much information as possible, including copies of any documents as evidence of the origin of your complaint with the financial services business.

What should I do if I am unsatisfied with the outcome?

If after following the above you remain unsatisfied with the action or non-action from the financial services business, you may decide to refer your complaint on to the Channel Islands Financial Ombudsman. There is no cost to you for using this service.

Who else can I contact?

If you have an unresolved complaint that has already been raised with your financial services provider, and your complaint is outside the scope of the Channel Islands Financial Ombudsman, you may consider contacting an advocate (lawyer) practicing in the Bailiwick of Guernsey. A current list of advocates is available from the Guernsey Bar website.

If the business that you are having an issue with does not carry out licensed activities, then you may wish to seek help from Guernsey Trading Standards.

Should I also contact the Commission?

The ​Commission is concerned when someone has a complaint against one of its licensees and treats all complaints against entities for which it has regulatory oversight seriously. Information about unresolved complaints can be helpful in highlighting shortcomings within regulated firms, as it may indicate flaws in their policies and/or procedures, and the Commission may decide that your complaint raises conduct, financial crime, or prudential concerns which we can then act to correct.

As the supervisor of financial services in defined areas, the Commission is only able to investigate complaints in the context of whether they reveal matters of concern to the Commission as an authorising and supervisory body. It is the Channel Islands Financial Ombudsman or the Law Courts that are able adjudicate or decide whether you should be compensated by the business your complaint is about. However, if you believe your complaint should be brought to our attention, we would be pleased to hear from you.

For the avoidance of doubt, the Commission will not become involved in a commercial dispute where for instance, a financial product does not perform as promised in its marketing literature, as that is the nature of financial products – whilst they can do well, there is always the possibility that they will not.

If you refer your complaint to the Commission, please ensure you provide as much information as possible to help us understand your complaint, including copies of all relevant correspondence with the financial services provider. All complaints should be made in writing, preferably sent by email to [email protected].

What can the Commission do?

Where the financial services business licensed by the Commission appears not to have observed good conduct of business or appears to have breached the regulatory laws under which it operates, the Commission will look into this to verify whether the entity has acted, or failed to act, in accordance with the relevant laws.

The Commission may decide to instigate its own investigation into matters connected with your complaint which could lead to supervisory or enforcement actions against the entity in question. However, the Commission is prevented by law from disclosing to complainants the progress being made with any investigation, the outcome of its investigation, or and what action(s) it may be taking or have taken, unless it was to become public information, for example, as a result of court proceedings. All of the Commission’s dealings with the firms it regulates are conducted on a confidential basis so as to encourage them to be completely open and transparent with the Commission. This is an essential component of the framework under which the Commission operates.

Although this can be frustrating for you as the complainant, it is important to remember that the Commission is only able to operate within its regulatory framework.

It is also important to be aware that the Commission is not an Ombudsman and is therefore, not empowered under the Law to order a licensed business to pay you compensation. Additionally, the extent to which the Commission would be able to investigate complaints against non-Part II Lending, Credit and Finance licensees is more limited, as not all of the requirements within The Lending Credit and Finance Rules and Guidance, 2023 apply to these licensees. If you are unsure whether the Commission would be able to consider your particular complaint, we would encourage you to contact us.

If you have any questions regarding the above, please contact us. Where you have a complaint against the Commission itself, or any of the Commission’s staff members, we would ask you to write in to the Commission Secretary – visit the Complaints Against the Commission page for more information.