Being straightforward around the number of complaints that firms get is supportive for the industry and shoppers. Firms can compare their execution with their peers and customers have an extra source of data approximately the firms we regulate. We distribute two diverse sorts of information each six months: firm particular information for person firms and total (or add up to) figures for the industry.
Firm specific complaints data
This incorporates information from person firms that have detailed 500 or more complaints in a six month period, or 1,000 or more in a year (roughly 290 firms). These complaints account for around 98% of all complaints that firms report to us. We distribute the information in both a sortable online table, where you’ll look by firm, and a downloadable table where you’ll look the information by item gather (eg managing an account items).
Aggregate (total) complaints data
This incorporates all the complaints that firms report to us. Over 3,000 firms yield complaints information to us detailing one or more complaint.
What is included in the data
The data we publish includes:
- the 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
The total definition of a complaint is in our Handbook glossary. Firms must report complaints from qualified complainants approximately exercises carried out from an foundation kept up by the firm or their designated agent within the EU.
Complaints information may moreover incorporate complaints from retail clients, proficient clients and qualified counterparties. A complaint is settled where the complainant has shown acknowledgment of a reaction from the firm. Not one or the other the reaction nor the acknowledgment must be in writing.
Consumer credit complaints data
The total information don’t incorporate complaints against firms that are as it were approved to carry out customer credit related exercises. Usually since not all firms have submitted the information to us yet following their authorisation prepare and, as a result, we don’t however have a full set of information. We are going not be distributing total measurements for all firms until they are approved and are detailing their complaints information to us.