FCA publishes final guidance on PPI complaints and proposes re-opening closed complaints

Following its consultation in July 2018 on handling complaints  about regular premium PPI, the FCA has published finalised guidance that confirms that firms should assess PPI commission disclosures not only at point of sale, but on an on-going basis.

The FCA is also consulting on new rules that would require firms that sold relevant products to customers who then had complaints rejected to write to those customers inviting them to consider making a new complaint about recurring non-disclosures of the existence of, or level of commission and/or profit share, before the 29 August 2019 deadline.

Responses are invited by 7 December 2018.