In the UK, the Financial Conduct Authority (FCA) requires financial services firms to report on the number of UK FCA reportable customer complaints they receive on a half yearly basis. This includes capturing expressions of dissatisfaction and aiming to resolve complaints within eight weeks. If complaints remain unresolved after eight weeks or if a customer is dissatisfied with our final response, they have the option to refer their complaint to the Financial Ombudsman Service (FOS). The FOS also publishes a half yearly report on financial services complaints they receive.
Number of complaints opened by volume of business
Product / service grouping
Provision per '000 (at reporting period end date)
Number of complaints opened
Number of complaints closed
Percentage closed after 3 days but within 8 weeks
Banking and credit cards
Insurance and pure protection
Decumulation and pensions
To put the figures above into context:
As of 30 June 2016 we had 1,299 Home Finance accounts. For every 1,000 accounts we received 0.77 complaints.
We recorded 64 Insurance and Pure Protection complaints against a total of 892,648 policies. For every 1,000 policies we received 0.07 complaints.
We recorded 352 Decumulation, Life and Pensions against a total of 340,566 policies. For every 1,000 policies we received 1.03 complaints.
We recorded 90 Investments complaints against a total of 55,415 accounts. For every 1,000 policies we received 1.62 complaints.