The FCA publishes complaints data every 6 months, usually around April and September. Within these data sets the FCA provides firm-specific data for individual firms and aggregate, or total, data at market-level. These data sets include submissions from firms reporting 500 or more complaints within a 6-month period, or firms reporting 1,000 or more complaints in a year.
In addition to the latest key findings the FCA also publishes interactive dashboards containing tables and data visualisations exploring trends involving:
In 2021 H2 financial services firms received 1.84m complaints, 10% lower than in 2021 H1. This is the lowest level recorded since 2016 H2.
The insurance and pure protection product group saw the largest decrease in complaints received by firms: from 890,000 complaints in 2021 H1 to 770,000 complaints in 2021 H2.
Unlike in previous returns, the decrease in insurance and pure protection complaints was not driven by the drop in complaints about Payment Protection Insurance (PPI). Instead, it was consistent across all products. The exception was in warranties which has increased 18% from 44,329 to 52,091
Current accounts are still the most complained about products. The number of complaints for these increased 5% from 503,135 in 2021 H1 to 526,609 in 2021 H2. Other general insurance is the second most complained about product, but this fell 28% from 297,650 to 216,438.