FCA publishes investor complaints league table

The Financial Conduct Authority has published its latest league table of complaints with more than 2 million complaints received in the first six months of this year

Covering the period between January and June, the UK financial watchdog has compiled a list from information supplied to it from financial services groups own official complaints registers.

Financial firms provide the FCA with data every six months about the complaints they have received, what these were about and how they have dealt with them. The firms also have to publish this information themselves.

In a statement released today the FCA pointed the consumers made a massive 2.05 million complaints to firms in the first half of 2016. However, this is 2.6% less than the number of complaints made in the previous six months.

PPI complaints

Payment protection insurance (PPI) is still the most complained about product, but the total number of new PPI complaints was more or less unchanged at 930,000. When PPI complaints are excluded, the number of complaints is reduced to 1.12 million.

Complaints about banks current accounts have seen the largest reduction – 46,000 or 10% – in this period, with Barclays sitting at the top of this particular table.

The UK regulator said that making a complaint to a financial services firm is a free and straightforward process that you can do yourself. Click here to find out more about how to complain.

ABOUT THE AUTHOR
Gary Robinson
Deputy Editor, International Investment and Head of Video at Open Door Media Publishing. A fully qualified journalist and filmmaker with more than 20 years' financial services experience, both as journalist and originally as an IFA.

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