CP15/39: Rules and guidance on payment protection insurance complaints

Consultation papers First published: Last updated: 30/11/2015

In this paper, we consult on proposed new rules and guidance for payment protection insurance (PPI) complaints.

Why are we issuing this consultation paper?

This Consultation Paper sets out, and asks for views on, our proposals for:

  • a new rule that would set a deadline by which consumers would need to make their PPI complaints or else lose their right to have them assessed by firms or by the Financial Ombudsman Service
  • an FCA-led communications campaign designed to inform consumers of the deadline
  • a new fee rule on funding this consumer communications campaign
  • new rules and guidance on the handling of PPI complaints in light of the Supreme Court’s decision in Plevin v Paragon Personal Finance Ltd
  • the proposed deadline also to apply to PPI complaints falling within the scope of the proposed rules and guidance on Plevin

CP15/39: Rules and guidance on payment protection insurance complaints [PDF]

We have also published the following accompanying research documents:

Understanding PPI redress from a consumer perspective [PDF]

PPI research analytical report [PDF]

PPI research technical report [PDF]

Who is this consultation aimed at?

This consultation affects:

  • consumers who were - or may have been - sold PPI
  • claims management companies, other paid advocates, and consumer organisations who take forward complaints about PPI on behalf of consumers or otherwise help them
  • firms that sold PPI and/or provided credit agreements which PPI covered
  • anyone interested in the FCA’s performance and accountability

What are the next steps?

We want to know what you think of these proposals. Please respond to our questions using our online form by 26 February 2016.

You can also email your answers to: 

[email protected]

Or in writing to:

Lauren Dixon or Julian Watts
Specialist Supervision Division
Financial Conduct Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

Note: We make all responses to formal consultation available for public inspection unless the respondent requests otherwise. We will not regard a standard confidentiality statement in an email message as a request for non-disclosure.

Despite this, we may be asked to disclose a confidential response under the Freedom of Information Act 2000. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by the Information Commissioner and the Information Rights Tribunal.