FCA Hit With 52% Surge In Complaints On Its Performance
Law360, London (February 10, 2020, 2:27 PM GMT) -- The financial services sector registered 52% more complaints about the Financial Conduct Authority in 2019 than the year before, with failure to act on information topping the list, newly published data shows.
Individuals and finance companies complained about the watchdog 1,532 times in 2019, up sharply from the total of 1,007 in 2018, according to a Freedom of Information request published by the FCA on Sunday.
Most of the complaints were made because the market believed the City regulator had failed to take appropriate supervisory action against companies accused of poor performance.
The FCA received 425 complaints in 2019 that it...
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