Bilateral Complaint Handling Process
The objectives of the Bilateral Complaint Handling Process (BCHP) are to:
- Address evidence-based complaints raised by financial institutions (FIs) to their home supervisors that document a competitive disadvantage as a result of the inconsistent implementation of the P&S, particularly with regard to Standards 6-9, 11 and 14, by firms headquartered in other jurisdictions.
- Produce and report information to the FSB on the nature and outcomes of such complaints so as to inform the scope and intensity of the ongoing monitoring.
Over time, the analysis of firm-specific cases via bilateral supervisory consultations and their reporting to the FSB as part of its ongoing monitoring in this area are expected to provide more clarity on the appropriate flexibility and transparency in the application of the P&S across firms and jurisdictions.
The BCHP is intended to complement and reinforce normal bilateral or multilateral supervisory channels that may be used by supervisors to address remuneration issues. In case of complaints by firms addressed through supervisory channels other than the BCHP, national authorities will report to the FSB on the nature and outcomes of these processes as part of the FSB's ongoing monitoring in this area.