The Austria Financial Market Authority has used a new edition of its supervisory publication series for regulated firms to clarify its expectations for complaint handling across sectors. Based on a cross-sector analysis of financial service providers' complaint procedures, the FMA said complaint handling requirements are a core part of conduct rules for nearly all firms it supervises and that ineffective procedures can leave systematic issues undiscovered, creating reputational risk and possible breaches of supervisory obligations. The FMA expects firms to define clearly in internal policies what constitutes a complaint and to distinguish complaints from general questions or other enquiries. Information on complaint procedures must be easy for customers to find without specialist knowledge or significant effort, including through websites or smartphone apps. Complaints must be handled objectively and answered promptly within applicable deadlines, with conflicts of interest avoided. Repeated or systematic issues should be analysed, documented and remedied, and internal policies should be institution-specific, coherent and complete.
Austria Financial Market Authority2026-07-10
Austria Financial Market Authority sets out complaint handling expectations for supervised financial service providers
The Austria Financial Market Authority has outlined complaint handling expectations for supervised financial service providers after a cross-sector review of firms' procedures. It expects clear definitions, easily accessible customer information, objective and timely handling, and analysis and remediation of recurring issues. Weak procedures can allow systematic problems to go undetected and lead to conduct and reputational risks.