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The Financial Services Authority (FSA) has today published two sets of complaints data, covering the second half of 2011.
The aggregate data covers the total volume of complaints received according to product, type of firm and cause of the complaint. It also covers the proportion of complaints resolved and upheld, and the total redress paid during this six-month period.
The firm-specific complaints data is a summary of the data reported to the FSA by financial institutions, and includes only those that have reported 500 or more complaints in a six-monthly reporting period. These firms have are also required to publish this data on their own websites. The FSA then publishes a consolidated table of the complaints data.
The FSA is committed to greater transparency where it will benefit consumers. Publishing this data brings complaints to the attention of firms and consumers alike, and gives firms a benchmark and an incentive to improve how they treat their customers and handle complaints.
The complaints data can be found here on the FSA website.
