Context
The FCA has published its complaints data from the first half of 2024 (2024 H1) which includes submissions from firms reporting 500 or more complaints within a 6-month period, or firms reporting 1,000 or more complaints in a year. Firms meeting these thresholds are obligated to publish complaints data on their websites. These complaints account for around 98% of all complaints that firms report to the FCA.
Key points to note and next actions
The findings from the latest data show:
- The product groups that experienced an increase in their complaint numbers compared to the second half of 2023 were:
- Decumulation & pensions (7.1%)
- Insurance & pure protection (1.4% increase, up from 754,010 (Dec 2023) to 764,254 (June 2024))
- Investments (2.1% increase)
The complaints data does not include any complaints reported to the regulator by firms only authorised to carry out consumer credit related activities. No data will be published until the authorisation process is complete. An exception may be where a firm has granted the FCA explicit consent to publish or where a firm has already self-published their data. There is data and information available in relation to aggregate complaints numbers, firm-specific complaints numbers, and also opened and closed complaints numbers. Complaints upheld data and redress data is also published.