FSA is consulting on changes to DISP to supplement existing guidance to explain how firms should assess complaints about PPI and to require firms that have rejected complaints about PPI to reassess them under the new criteria. FSA has written to eight trade associations saying it is concerned firms’ deficiencies in PPI complaints handling stem from their failure to consider sales standards. The proposals consider:
- how firms should carry out a fair assessment of a complaint; and
- what standards they should apply to calculate redress where appropriate.
FOS plans to develop a PPI complaint questionnaire that firms should use. FSA wants comments by 30 October.