FSA has issued finalised guidance setting its view on what it considers a clear, fair and not misleading payment protection insurance customer contact letter (PPI CCL). Apart from stating the reasons why the customer may have been mis-sold PPI and the actions available in respect of it, the PPI CCL must explain that there is a potential limit on the time the consumer has to make a complaint to the firm and the FOS. Receiving a PPI CCL will prove that a customer has enough information about the potential detriment suffered so that the three-year period to file a complaint can start running. It is therefore important for firms to keep adequate records of the PPI CCL mailing. (Source:Finalised Guidance on PPI CCL)