Complaints Training Guide for Customer Facing Departments

CCUK - Financial Conduct Authority (‘FCA’)

• COMPLAINT DEFINITION ANALYSIS .-

3. Definitions of financial loss, material distress or material inconvenience.’

Note that Compliance will decide if any of these 3 concepts apply to the case and rule it in or out of scope, accordingly. This decision will not have be made by the person receiving the Complaint (Customer Facing Staff).



• Financial Loss: Action has resulted in a monetary loss.
• Material Distress: Action has affected the emotional state of the client (stress, anxiety, embarrassment...)
• Material Inconvenience: Action has caused a difficulty and disruption on the customer’s life.

The above does not necessarily have to be true. If the client claims it to be true then it will fall within the definition.