Rules and guidance on payment protection insurance complaints

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  • FCA

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

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.