Please find the full publication from the FCA here.
Transparency from firms on the number of complaints they receive is helpful for industry and consumers. Firms can compare their performance in the market and consumers have an additional source of information about the firms we regulate. Further complaints data may be obtained from the Financial Ombudsman Service.
We publish our complaints data every 6 months, around April and October. We provide 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. Firms that meet these thresholds are obligated to publish complaints data on their websites. These complaints account for around 98% of all complaints that firms report to us. Please note that where a firm has reported less than 500 complaints, they report less detailed data to us.
Latest findings
- In 2022 H2, financial services firms received 1.79m complaints, a decrease of 6% from 2022 H1 (1.91m) (figure 1).
- The product groups that experienced a decrease in their complaint numbers were banking and credit cards (5%), insurance and pure protection (10%), and investments (10%).
- The home finance product group saw the biggest increase (14%) in complaints received by firms, from 88,514 in 2022 H1 to 101,331 in 2022 H2.
- Noticeable increases can be seen in the following products: savings (including ISAs) from 51,415 in 2022 H1 to 69,256 in 2022 H2 (35%), travel from 22,261 in 2022 H1 to 31,987 in 2022 H2 (44%), and assistance from 26,428 in 2022 H1 to 29,091 in 2022 H2 (10%).
What is included in the data
In addition to the latest key findings, we also publish interactive dashboards containing tables and data visualisations exploring trends involving:
- the total number of opened, closed, and upheld complaints, in relation to the size of the market or firm
- the amount of redress paid
- the type of firm the complaint was about
- the type of product the complaint was about
- the reason for the complaint
- Understanding the data
How we define a complaint
Our definition of a complaint is in the FCA Handbook glossary. Firms must report complaints from eligible complainants about activities carried out from an establishment maintained by the firm or their appointed representative in the UK. The complaints data may also include complaints made by retail clients, professional clients, and any other eligible counterparties.
A complaint is considered resolved when the complainant has indicated that they accept the firm’s response to their complaint. It is not mandatory for either the response or the acceptance to be in writing.
Consumer credit complaints data
Our published aggregate, or total, complaints data does not include any complaint reported to us 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 us explicit consent to publish or where a firm has already self-published their data.
More information on how to use our complaints data.
Future edition publication dates
H1 2023 data: 19 October 2023
H2 2023 data: 25 April 2024
Please find the full publication from the FCA here.
