FCA to gather evidence on PPI complaints process

The Financial Conduct Authority (FCA) is planning to gather evidence on current trends in complaints related to payment protection insurance (PPI).

The regulator said it will use this evidence to assess whether the current approach is working. It will measure this by looking at whether the PPI complaints process is "securing appropriate protection for consumers and enhancing the integrity of the UK's financial system". The FCA will then consider whether further interventions may be appropriate - which could include a consumer communication campaign; a possible time limit on complaints; or other rule changes or guidance - or whether the PPI scheme should continue as it is. Work on the project will begin shortly, the regulator s...