Scheme Member responsibilities

Scheme Member responsibilities

All Scheme Members have responsibilities under various legislation, and are bound by the FDR Scheme Rules.

Primary responsibilities with the FDRC Scheme Rules are to:

  • be bound by any decision made by FDRC
  • pay all fees due to FDRC
  • provide all the required information regarding a dispute
  • adhere to any relevant industry codes and legislation
  • have an internal complaints procedure in place, promote and make it accessible to customers
  • promote membership of FDRC

The rules for FDRC include:

  • the purpose and functions of FDRC
  • what sort of complaints are covered
  • complaint resolution process
  • timeline and powers of FDRC
  • membership rules and responsibilities

Download the FDRC Scheme Rules here.

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Member compliance

In order to comply with legislation, Scheme Members need to have an internal complaints handling procedure for dealing with complaints.

They must advise present and prospective clients about their complaint handling procedure, and make it clear that they are members of FDRC. Scheme Members must agree to provide all necessary information in a complaint process, and agree to be bound by the Scheme Rules.

FDRC provides detailed information about how to set up an efficient and effective internal complaint process to all of its Scheme Members once they have joined FDRC.

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