Complaints Policy and Procedures

Our Commitment

Charles Schwab, U.K., Limited ("CSUK") is committed to providing a high standard of service and to acting in the best interests of its clients and prospective clients. We recognise that, on occasion, individuals may feel dissatisfied with a service they have received, or with a service that was expected but not provided.

This page explains who may raise a complaint, how complaints are handled, and the steps available should you remain dissatisfied with the outcome.

Who Can Complain

CSUK is authorised and regulated by the Financial Conduct Authority ("FCA") (Firm Reference Number 225116).

Complaints may be raised by:

  • UK resident prospects or clients of Charles Schwab group entities where the complaint has a connection to CSUK's regulated activities or interactions.

CSUK records and reviews all complaints it receives, whether made verbally or in writing, and ensures they are assessed fairly, promptly and consistently in line with applicable regulatory requirements.

How Complaints Are Handled

CSUK operates within a global Charles Schwab group structure. Depending on the nature of the complaint, investigation and resolution activities may be carried out using intra group arrangements.

Regardless of how a complaint is handled operationally:

  • CSUK maintains oversight and responsibility for complaints it receives;
  • Complaints are assessed to determine whether UK regulatory complaint handling requirements apply; and
  • Appropriate steps are taken to ensure complaints are handled fairly, transparently and within required timeframes.

Where a complaint relates specifically to CSUK's own regulated activities, CSUK will ensure that it is handled in accordance with the FCA's complaint handling rules.

Escalation and Review

If you are dissatisfied with the outcome of your complaint, you may request a further review. CSUK will consider whether the complaint has been handled fairly and in line with regulatory expectations and will confirm its position following that review.

Timeframes

The timeframes set out below apply where a complaint is subject to the FCA's complaint handling rules. Where this is not the case, CSUK will still seek to resolve concerns fairly and promptly, applying a proportionate approach.

Where possible, complaints may be resolved informally within three business days. If this occurs, you will receive a written summary confirming the resolution and explaining your right to take the matter further if you remain dissatisfied.

If a complaint cannot be resolved within three business days, it will be handled formally. In these cases:

  • You will receive an acknowledgement of your complaint;
  • We will keep you informed of progress; and
  • You will receive a written final response within eight weeks, or an explanation if more time is required together with information about your further options.

Financial Ombudsman Service

If you remain dissatisfied after receiving a final response, you may be entitled to refer your complaint to the Financial Ombudsman Service ("FOS"), an independent body established to resolve disputes between firms and eligible complainants.

Eligibility to refer a complaint to the FOS depends on a number of factors, including the nature of the complaint and the services involved. CSUK considers eligibility on a case-by-case basis and will explain your position clearly where FOS referral rights apply.

Further information about the Financial Ombudsman Service is available at: 
Financial Ombudsman Service
Exchange Tower
London E14 9SR
Telephone: 020 7964 1000
Website: www.financial-ombudsman.org.uk

How to Submit a Complaint

To help us deal with your complaint efficiently, please provide:

  • Your name and contact details;
  • (If applicable) the name of the organisation you represent;
  • Any relevant account or reference numbers; and
  • A description of your complaint, including key dates and details.

All complaints should be directed to:
Compliance Director
Charles Schwab, U.K., Limited
33 Ludgate Hill
London EC4M 7JN
Email: kash.baig@schwab.com
Telephone: +44 20 3795 2704

Our Approach

CSUK treats complaints as an opportunity to learn and improve. All complaints are reviewed to identify themes and trends, and appropriate action is taken where improvements are needed.