Conduct and Consumer Protection

The terms

• Complaints Handling

  Complaints handling is the process by which an organisation receives, records, investigates and resolves expressions of dissatisfaction from customers, and uses the findings to correct underlying problems.

  Domain: Compliance and Regulation

• Customer Detriment

  Customer detriment is the financial loss or other harm a customer suffers because a firm sold them the wrong product, charged unfairly, gave poor service or otherwise failed to treat them properly.

  Domain: Compliance and Regulation

• Customer Redress

  Customer redress is the remedy a firm gives to customers it has wronged, usually refunds with interest, compensation or correction of the product, often together with an apology or explanation.

  Domain: Compliance and Regulation

• Vulnerable Customers

  Vulnerable customers are people who, because of their circumstances, are more likely to suffer harm or less able to look after their own interests when dealing with a firm.

  Domain: Compliance and Regulation