Moved by
Baroness Hayter of Kentish Town
24BH: Schedule 4, page 91, line 27, at end insert—
“Consumer research
16A (1) The CMA must make arrangements for ascertaining information with regards to—
(a) the state of public opinion about the manner in which financial services are provided to consumers;
(b) consumer experiences of consumers in relation to the provision of financial services, including—
(i) handling of complaints by financial institutions, and
(ii) resolution of disputes with financial institutions.
(2) The CMA shall consult concurrent regulators where necessary.
(3) The CMA shall publish the conclusions from research carried out under sub-paragraph (1) every two years.
(4) The CMA shall report to the Secretary of State its conclusions and any recommendations arising from research carried out under sub-paragraph (1) every 2 years.
(5) The Secretary of State shall publish a response to any such report within 60 days and lay a copy of that response before Parliament.
(6) This section does not restrict the CMA’s power to make any arrangements that it considers to be incidental or conducive to the carrying out of any of its functions.”