FCA Complaints Drop 26% As Misselling Claims Tail Off

Law360, London (April 30, 2021, 2:21 PM BST) -- The Financial Conduct Authority said the number of complaints it receives about regulated companies fell by 26% in in the second half of 2020, as the scandal over wrongly sold payment protection insurance draws to a close.

The watchdog said it handled 2.2 million complaints over financial businesses between July and December, down from three million in the first six months of the year. The numbers were the lowest for the period since 2016.

The drop was largely the result of a decline in claims for the controversial cover, known as PPI, which fell 77% from 1.8 million in the first...

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