Related topic: complaints

Firms are being urged to review their systems as new guidance sets the standard for customer vulnerability management.

The regulator will require firms to report complaints involving customers in vulnerable circumstances.

Home finance complaints fell by 6%, while trust-based pension complaints rose 38%.

The FCA says the reforms will prevent compensation delays and provide predictability needed for innovation.

57% of mis-selling and suitability complaints were upheld.

The regulator plans to consolidate five current returns into one.

In H2 2024 the total amount of redress was £236m.