Social Media

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Managing Social Media Engagement Internal Relationship (Financial company)

To adhere to the Financial Conduct Authority (FCA), a finanacial company needs to follow an internal process for complaints. These are known as Notification Types they are 24hr and N2 responses.

  • 24hr: Resolution at close of play the next business day
  • N2: Can’t resolve, further process to follow

Under the FCA guidelines, a financial company has five working days to acknowledge any complaint, then a further eight weeks to find a response. If they are unable to respond, they are required to provide a False Referral Rights document, guiding the person to the Financial Ombudsman. Each legitimate complaint requires the financial company to provide a How to Complain Booklet. The booklet can be made available for downloading.

The internal social media engagement process would follow the following process.

Managing Social Media Engagement Internal Relationship (Financial company)