# Consumer complaints

- Canonical URL: https://www.gerhardmerk.de/consumer-complaints-2
- Post ID: 8093
- Modified: 2023-07-25T20:59:21+00:00
- Language: en

## Definition

Anybody can report complaints about misconduct in the financial sector to the complaints office of the supervisory authority. - However, the Federal Financial Supervisory Authority acts solely in the public interest. It is therefore unable to intervene on behalf of the private legal interests of individual complainants or, like a board of arbitration, make binding decisions on individual disputes. In the course of a consumer complaint, the authority can only examine whether there has been a violation of supervisory rules. This is also done as a rule and especially when complaints against an institution accumulate. - See Consumer Advisory Council, Consumer Protection Forum. - Cf. in relative detail the respective annual report of BaFin, chapter "Cross-sectional tasks"; there also an annual breakdown of complaints by individual facts and cases from practice, Annual Report 2012 of BaFin, p. 70 et seq. (Europe-wide uniform guidelines on complaints), p. 166 (BaFin investigates complaints and issues warnings), p. 211 (complaint statistics; consumer telephone of BaFin, ongoing cases). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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