The FCA has announced that it will consult on the introduction of a deadline by which consumers will need to make their PPI complaints or else lose their right to have them assessed. The deadline is likely to be Spring 2018 at the earliest. The consultation will also set out plans for a proposed FCA-led communications campaign designed to prompt consumers to complain in advance of the deadline.

The FCA will also consult on proposed rules and guidance about how firms should handle PPI complaints fairly in light of Plevin v Paragon Personal Finance Ltd. The proposed rules and guidance would say that a firm should presume, when assessing a relevant complaint in respect of a PPI policy covering a credit agreement under s.140A, that a failure to disclose a commission of 50% or more gave rise to an unfair relationship under s.140A. A Consultation Paper is expected before the end of 2015 with new rules or guidance likely to take effect at the soonest, April 2016.