Complaint Management
CM-03Notify the sponsor bank of regulatory criticism within 5 business days
How Leela would run itEvent-driven · on receipt of an adverse regulatory communication; 5 business days, sooner if material
From the policy libraryThe requirement
Any adverse communication from a regulator about the program is reported to the sponsor bank in writing within 5 business days, sooner when material, with the documentation or a detailed summary. The sponsor bank approves the response before it goes out.
- Applies
- Tell Leela about your company to see whether this applies.
- Status
- Setup needed
Tell Leela how you handle it today, or hand it over: see what’s next.
The work
Log the matter as regulatory criticism at Critical severity, send the written notice with the relevant documents to the sponsor bank, and hold any substantive response until the bank approves it.
What Leela keepsThe evidence this obligation leaves, as the work happens
Listed from the policy libraryContents
- 01Written notice to the sponsor bankDated letter or email with attachments
- 02Sponsor bank approval of the responseWritten approval on file before the response is sent
Evidence
Written notice to the sponsor bank
Complaint Management §10.1
2
of 2 records
The work and the records come from this obligation in the policy library.