Source · National Audit Office

Financial services mis-selling: regulation and redress

Published: 24 Feb 2016 Type: Value for Money Department: Department for Business, Energy & Industrial Strategy

The Financial Conduct Authority cannot know whether its activities are reducing the overall scale of financial services mis-selling to consumers. The most prominent example of mis-selling is Payment Protection Insurance (PPI). Between April 2011 and November 2015, firms paid out £22.2 billion in compensation to more than 12 million customers who had bought PPI.

Dept: Department for Business, Energy & Industrial Strategy Topics: Business and industryRegulation nao.org.uk →

Public Accounts Committee follow-up

1 report

The Public Accounts Committee examined this NAO report and published its own recommendations. The government responds to PAC recommendations via Treasury Minutes.

13 May 2016 Public Accounts C… 41st Report - Financial services mis-selling: regulation and redress · parliament.uk