The Complaints Commissioner has ruled in favour of the FCA over a complaint by a financial adviser unhappy about delays to their Approved Persons application.

London Capital & Finance (LCF) investors have hired a legal firm to bring a formal complaint against the Financial Conduct Authority.

The Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England have appointed FOS independent assessor Amerdeep Somal as Complaints Commissioner.

The FCA, PRA and Bank of England are consulting on an updated Complaints Scheme to make it simpler and more "user friendly."