The Public Accounts Committee has warned of the continuing risks of mis-selling of financial products. It is disappointed both that FCA and FOS have not been sufficiently proactive on PPI complaints, which means claims management companies have acted for a significant number of consumers, thus meaning the consumers do not get the full amount of compensation which they could have kept had they complained directly, and that FCA has not yet articulated how it expects the industry to change its culture to reduce the risk of further mis-selling. It also called on FOS to publish details of when it expects to clear its PPI complaint backlog. (Source: Committee warns over mis-selling risks)