(1) The Financial Services Act 2012 is amended in accordance with subsections (2) and (3).

(2) In section 84 (arrangements for the investigation of complaints) -

(a) omit the "and" at the end of subsection (1)(a);

(b) omit subsection (1)(b);

(c) after subsection (1) insert -

"(1A) The Treasury must appoint an independent person ("the investigator") to be responsible for the conduct of investigations in accordance with the complaints scheme.";

(d) omit subsection (4);

(e) in subsection (5), in the opening words, for "regulators" substitute "Treasury".

(3) In section 87 (investigation of complaints) -

(a) in subsection (9A), after paragraph (b) insert -

"(ba) for the regulator’s response under paragraph (b) to include a summary of -